US oil prices remain steady

US oil prices were steady yesterday, ahead of the first big snowstorm this year in the country’s north-east, while benchmark Brent crude fell after pledges of no policy change by the top oil exporter Saudi Arabia after King Abdullah’s death.

An 11-year high in the US dollar against other major currencies, and fears of fresh instability in the eurozone after a decisive Greek election victory by the Syriza party also limited any potential rebound in oil, traders said.

Light snow began falling on the US east Coast yesterday morning, the first signs of a potentially historic blizzard that officials predicted could dump up to three feet of snow in the coming day, snarling transportation for millions of people.