Crude prices hovered above $74 today as concerns over Greece’s sovereign debt kept the euro close to nine-month lows against the dollar.

For March delivery, US crude increased by 7 cents to $74.20 a barrel at 02.30 GMT, while London ICE Brent crude rose by 34 cents to $72.85 a barrel, reports Reuters.

Oil has traded in a relatively tight $15 range between $69 and $84 a barrel since October 2009.

At a meeting in Brussels yesterday euro zone finance ministers urged Greece to announce more deficit-control steps by mid-March if necessary, reports Reuters.