Oil up

Oil rose in afternoon Asian trade on Monday on expectations that an improving US economy will lead to higher demand for crude, analysts said.
New York's main contract, light sweet crude for February delivery, rose 34 cents to $91.72 per barrel.
Brent North Sea crude for February was up 28 cents at $95.03
The two contracts closed 2010 at a two-year high, buoyed by hopes that improved US economic momentum will bolster global growth and translate into higher oil demand.
In afternoon Asian trade, the dollar was unchanged from Friday at 81.28 yen, while the euro was at 1.3298 to the dollar, down slightly from 1.3381.
The recent cold winter spell in the northeast region of USA also boosted crude prices.