Oil near $72 amid US cold snap

SINGAPORE (AP) - Oil prices rose near to $72 a barrel Monday in Asia after hitting a two-month low last week, boosted by tensions over Iran's nuclear program and persistently cold weather in the U.S. northeast.

Benchmark crude for March delivery was up 56 cents at $71.75 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract plunged $1.95 to settle at $71.19 on Friday.