Oil Prices Hanging Around $62

Oil prices stalled around $62.50 on Wednesday as caution set in ahead of the release of U.S. inventory data, which is seen as likely to show a fall in heating fuel stocks.

U.S. crude was trading 18 cents higher at $62.61 at 0132 GMT on the NYMEX.

London's Brent crude rose 13 cents to $63.45 on the ICE Futures.