Oil has remained steady in today's trading in Asia. In New York, light, sweet crude futures for delivery in February traded at $91.24 a barrel, up 13 cents in the Globex electronic session.
February Brent crude on London based ICE Futures exchange rose 1 cent to $97.62 a barrel.
The Alaska Pipeline system, shut down after workers discovered a leak Saturday, will not be up and running until the end of the week. But any delays could cause short-term supply disruptions to refineries on the U.S. West Coast, which rely heavily on oil flowing along this route. The supply worries sent February crude up $1.86, or 2.1%, in New York.
The shutdown isn't a strong enough factor to sustain bullish momentum against overall slack in the U.S. supply-demand situation, Nomura Securities said in a commodity report issued Wednesday.
Nymex reformulated gasoline blendstock for February-the benchmark gasoline contract-fell 103 points to $2.4681 a gallon, while February heating oil traded at $2.6075, 13 points lower.
ICE gasoil for January changed hands at $798.50 a metric ton, up $4.00 from Tuesday's settlement.