US crude oil prices fell in light trade today but stayed close to recent 26-month highs, pulled down by profit-taking as markets awaited the release of US inventory data.
Analysts forecast a drawdown in crude oil inventories and a petrol stock build last week as refiners took measures to limit stocks for year-end tax considerations.
US crude for February delivery edged down 33 cents to $91.16 a barrel, while Brent crude fell 24 cents to $94.14 in London trade.
Crude volume on the New York Mercantile Exchange remained thin with many players out due to the holidays.
Crude inventories in the world's biggest economy, the US, were pegged to have fallen 2.9 million barrels, while petrol stocks were seen up 1.5 million barrels, according to a poll of analysts.
US oil prices hit a 26-month high at $91.88 on Monday after a major blizzard hit the northeastern US and cold temperatures on the other side of the Atlantic pushed up demand.
The gains, however, were later tempered by a Chinese rate increase that threatened to slow demand in the world's second biggest oil consumer.
