Oil mixed in Asian trade

Written by: Pti
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Singapore, Jan 12 (AFP) Oil prices were mixed inAsian trade today with the shutting down of two North Sea oilfields compounding supply cuts from the closure of an Alaskanpipeline to support markets, analysts said.

New York''s main contract, light sweet crude fordelivery in February, rose six cents to USD 91.17 a barrel.

Brent North Sea crude for February delivery dippedseven cents to USD 97.54.

The closure of Norwegian oil producer Statoil''sSnorre and Vigdis fields in the North Sea due to a gas leakwas holding crude prices up, said Ong Yi Ling, investmentanalyst for Phillip Futures in Singapore.

"The shutdown of two North Sea oil fields...

incites supply concerns for the market already on edge due tothe Alaska pipeline closure," she told AFP.

Snorre produced an estimated 116,000 barrels of oilper day in 2010, the Norwegian Petroleum Directorate said onits website. Vigdis pumped 41,000 barrels of oil per day lastyear.

The oil fields closure dealt a second blow to crudesupply in as many weeks following the shutdown of the TransAlaska Pipeline on January 8.

The suspension of the 800-mile (1,300-kilometre)pipeline''s operations -- responsible for delivering 12 percent of US production -- entered its fifth day with noofficial word on when it would reopen. (AFP)

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