Oil Prices Steady After a Slight Rise

Oil prices were steady Thursday after rising moderately in the previous session, supported by Wall Street's overnight rise and threats to U.S. oil supplies.

Wall Street rallied Wednesday after the U.S. Commerce Department said retail sales rose unexpectedly last month. Energy investors often view the equity market as a barometer of economic health, worrying that any slowdown in growth will lead to a corresponding slump in energy demand.

Light, sweet crude for March delivery rose 19 cents to US$93.46 a barrel in European electronic trading on the New York Mercantile Exchange by late morning in Europe.