World oil prices steadied this evening following the latest update on energy reserves in key consumer the United States despite intensified fighting in crude exporter Libya.
Brent North Sea crude rose 26 cents to $115.42 a barrel, after falling slightly earlier in the day. US crude dipped four cents to $104.75.
The US government's Department of Energy (DoE) said that American crude stockpiles rose by 2.9 million barrels last week, while petrol inventories dropped by 2.7 million barrels.
Traders are keenly following the level of petrol reserves ahead of the summer driving season in the US starting in May, when many Americans hit the roads on holiday, pushing up demand. A drop in reserves is usually seen as a sign of stronger demand. The US is the world's biggest consumer of oil.
Libya produced 1.69 million barrels a day before the unrest, according to the International Energy Agency. However, output has since fallen sharply.
