LONDON, Jan 21: Oil prices firmed on Wednesday but held to a tight range as the market awaited the latest weekly update on energy stockpiles in key consumer the United States.

Traders also kept an eye on tumbling stock markets and a global economic downturn that has undercut world demand for energy.

New York’s main contract, light sweet crude for delivery in March, added 51 cents to $41.35 a barrel.

In London, Brent North Sea crude for March gained 11 cents to $43.73.

Traders were awaiting the weekly US energy report, which will be released on Thursday, one day later than normal owing to Monday’s public holiday in the United States.—AFP