Oil prices edged up in Asian trade today on stronger demand as a cold snap continued in the United States, the world's biggest energy consumer.
Trading was quiet, however, with many investors away for the Christmas and New Year holidays.
New York's main futures contract, light sweet crude for delivery in February, advanced 50 cents to $78.55 a barrel.
Brent North Sea crude for February gained 65 cents to $76.96.
Clarence Chu, an oil trader with Hudson Capital in Singapore, said trading activities were "half their usual volume" because of the holiday season.
"It's going to be quiet, the market is going to be slow," he added.
Chu said the only factor that might make a significant impact on oil prices this week is the release of data from the US Energy Information Administration (EIA) on Wednesday.
The report will indicate how strong energy demand is in the United States.
Last week, prices surged in a pre-Christmas rally after the weekly report showed a larger-than-expected dip in US crude stockpiles, indicating stronger demand