Oil Prices up in Asian Trade

Wednesday, December 16, 2009 at 4:00 pm

SINGAPORE: Oil prices were stable in Asian trade on Wednesday as dealers weighed recent price falls against a firming US dollar, analysts said.
Oil Prices up in Asian Trade
New York’s main futures contract, light sweet crude for delivery in January, was unchanged at 70.69 dollars a barrel. Brent North Sea crude for delivery in January gained 16 cents to 72.05 dollars. The contract will terminate later today. The market rose as traders cashed in on a recent price drop, hoping to offset potential weakness from a strengthening greenback, analysts said.