Investing.com - Crude oil prices eased in early Asian trade on Wednesday on concerns that inventories are set to increase again in the United States at a time when refiners normally ramp up output of heating oil. On the New York Mercantile Exchange, light sweet crude futures for delivery in January traded at USD93.53 a barrel, down 0.33%, on prospects for a 10th straight weekly increase in U.S. crude supplies and growing sentiment that Iran could sometime next year escape economic sanctions that have crippled oil exports. The commodity hit a session low of USD93.56 and a high of USD94.68. The January contract settled down 0.79% at USD94.09 a barrel on Monday. Trade sanctions slapped on Iran due to its alleged nuclear ambitions have taken out more than 1 million barrels of oil per day from the global market in the past two years, and a weekend diplomatic accord that eased some of the sanctions over the country's nuclear program has paved the way for a wider discussion. Elsewhere, investors also avoided crude ahead of the release of weekly supply data on Wednesday. Analysts expect the Wednesday report from the Energy Information Administration to show that oil stockpiles increased by 606.000 barrels in the week ended Nov. 22, which would be the tenth straight weekly increase. Late Tuesday, the American Petroleum Institute said crude inventories rose by 6.9 million barrels last week. Brent crude on ICE Futures Europe finished down 0.1% to USD110.88 a barrel on Tuesday.

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