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Oil prices remain relatively steady

02 February 2009 08:32 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. Crude oil was little changed in New York amid concern that workers may strike at U.S. refineries, limiting fuel supplies, and OPEC may enact deeper output cuts, Bloomberg reports.
Crude oil for March delivery was at $41.52 a barrel, down 16 cents, in after-hours electronic trading on the New York Mercantile Exchange at 2:07 p.m. Singapore time. Prices earlier rose as much as 1.5 percent to $42.31 a barrel
The contract gained 0.6 percent to $41.68 a barrel on Jan. 30 as the threat of strikes in the U.S. helped push gasoline futures to an 11-week high and the Commerce Department reported a smaller-than-expected contraction in the U.S. economy in the fourth quarter.
Brent crude oil for March settlement rose as much as 68 cents, or 1.5 percent, to $46.56 a barrel on Londonâ€™s ICE Futures Europe exchange. It gained 1.1 percent to $45.88 a barrel on Jan. 30.