Oil over 82 dollars after EU, IMF agree Irish bailout

New York's main contract, light sweet crude for January delivery, gained 71 cents to 82.69 dollars per barrel. — File Photo

SINGAPORE: Oil prices topped 82 dollars in Asian trade Monday as the euro’s value soared following the agreement of a massive bailout for financially strapped Ireland, analysts said.

New York’s main contract, light sweet crude for January delivery, gained 71 cents to 82.69 dollars per barrel.

Brent North Sea crude for January rose 77 cents to 85.11 dollars. Oil prices followed the euro up as the European Union (EU) and International Monetary Fund (IMF) late Sunday agreed to bail out debt-ridden Ireland to the tune of between 80 and 90 billion euros.