Oil prices were slightly lower in Asian trading as the US dollar rose.
Oil prices were slightly lower in Asian trading as the US dollar rose, though analysts said prices were being held up by positive economic news and a cold snap in Europe.
US crude shed seven cents to $86.68 a barrel, while Brent crude dipped 18 cents to $88.69.
The US dollar gained against the euro in Asia this morning, with the single European currency trading at $1.3106. A stronger dollar usually makes oil more expensive for holders of other currencies.
But analysts said strong US, Chinese and European manufacturing data were providing support for oil markets, and continued freezing weather in Europe would keep oil demand healthy in the near term.
