USD 80.5268

-0.16

EUR 93.3684

-1.09

Brent 66.42

-0.27

Natural gas 2.801

-0.01

142

Oil Prices Stable, US Stockpiles Too

Oil prices were steady in Asian trade

Oil Prices Stable, US Stockpiles Too

Oil prices were steady in Asian trade with the latest US energy stockpiles offering little incentive to boost interest, dealers said.

Prices are also drifting lower with forecasts of warm weather conditions in the northern hemisphere, dampening demand for heating oil, they said.

New York's main contract, light sweet crude for December delivery was down 7 cents to 58.64 usd a barrel from its US close of 58.71 usd overnight.

Brent North Sea crude for December delivery was up 2 cents at 59 usd.

The US Department of Energy said Wednesday crude oil reserves rose 2.0 mln barrels to 334.3 mln in the week ended October 27. Analysts had expected a rise of 2.6 mln barrels.

Levels of distillate products, such as heating oil and diesel fuel, were down 2.7 mln barrels to 141.3 mln over the week. That compared with a smaller forecast fall of 1.2 mln barrels.

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