Oil edges up

Oil prices edged higher in Asian trade Monday as the dollar weakened against the euro, spurring investor demand for crude futures, analysts said.
New York's main contract, light sweet crude for delivery in July, added 43 cents to 74.40 dollars a barrel while Brent North Sea crude for July was up 50 cents at 74.52 dollars.
"The oil market continues to take its directions from the financial sector," said Victor Shum, an analyst with energy consultancy Purvin and Gertz.
"The US dollar has weakened versus the euro and we see a small increase in the oil pricing correspondingly," he told AFP.