Oil Prices Gained on Opec's Possible Production Cut

Oil prices rose Tuesday in Asia as investors eyed the possibility that OPEC may cut production just ahead of the second quarter.

OPEC may do so just ahead of the second quarter when oil prices have started an annual run-up the past five years as people looked ahead to "gasoline demand coming in the spring."

Light, sweet crude for March delivery rose 83 cents from Friday's floor close to US$96.33 a barrel in Asian electronic trading on the New York Mercantile Exchange by midday in Singapore.