Oil prices edged higher this evening, with New York crude holding above $81 on increased heating fuel demand spurred by freezing weather in the northern hemisphere.
New York's main futures contract, light sweet crude for delivery in February, gained four cents to $81.55 a barrel.
Brent North Sea crude for February delivery added 13 cents to $80.25 in London trading.
Oil prices had begun 2010 with a bang yesterday, soaring by over $2 as cold weather spread across Europe and the US.
Reports that Russia had cut supplies to Belarus also helped push prices higher, dealers said. Officials in Belarus denied the reports, however.
