LONDON - Oil prices fell sharply on profit-taking Friday after the IEA slashed its demand forecast and amid delays to a Greek bailout deal, analysts said. New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in March, sank $1.09 to $98.75. Brent North Sea crude for March tumbled $1.33 to $117.26 in late morning London deals. On Thursday, the Brent contract had struck $118.79 -- which was the highest level since August 1 -- propelled by ongoing tensions in key crude producer Iran and tentative hopes of a Greek debt deal.