Global oil prices eased in Asian trade Wednesday after an overnight surge on forecast of decline in US stockpiles amid continuing cold snap.
Light sweet crude for February delivery was seen trading at $91.35 a barrel at 12.00 noon Singapore time while Brent crude for February settlement was at $94.27 a barrel in London.
Expectations of a fall in US stockpiles as a cold snap hit heavy energy consuming regions of the United States and Europe are likely to push oil prices up again during the day, analysts said.
Forecasts said crude inventories probably shrank for a fourth week, extending the longest decline in a year, analysts added.
American Petroleum Institute, which collects stockpile information on a voluntary basis, will issue its report later today, a day later than usual. US Energy Department will release its weekly report On Thursday, also a day later than usual because of Christmas.
The dollar index, which tracks the greenback's performance against a basket of major currencies, was largely unchanged at 80.288.
On Tuesday, light sweet crude for February delivery closed at $91.49 a barrel while In London a barrel of Brent North Sea crude for February delivery closed at $94.38 on the InterContinental Exchange.
The London oil market was closed on Tuesday for the second day of a long holiday weekend, with only electronic trading providing an indication of price movement.
Light sweet crude for February delivery was seen trading at $91.35 a barrel at 12.00 noon Singapore time while Brent crude for February settlement was at $94.27 a barrel in London.
Expectations of a fall in US stockpiles as a cold snap hit heavy energy consuming regions of the United States and Europe are likely to push oil prices up again during the day, analysts said.
Forecasts said crude inventories probably shrank for a fourth week, extending the longest decline in a year, analysts added.
American Petroleum Institute, which collects stockpile information on a voluntary basis, will issue its report later today, a day later than usual. US Energy Department will release its weekly report On Thursday, also a day later than usual because of Christmas.
The dollar index, which tracks the greenback's performance against a basket of major currencies, was largely unchanged at 80.288.
On Tuesday, light sweet crude for February delivery closed at $91.49 a barrel while In London a barrel of Brent North Sea crude for February delivery closed at $94.38 on the InterContinental Exchange.
The London oil market was closed on Tuesday for the second day of a long holiday weekend, with only electronic trading providing an indication of price movement.
