December 18, 2014 2:49 PM

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Oil prices edge higher in Asia

Oil prices edged higher in Asia today after data showed US stockpiles dipping, while the Federal Reserve indicated interest rates would not be hiked until the middle of next year. US benchmark West Texas Intermediate for January delivery rose eight cents to 56.55 dollar while Brent crude for February gained 18 cents to 61.36 dollar in mid-morning trade.Meanwhile, in Russia, the rouble has regained ground from Tuesday's all-time low, although trading remains edgy and volatile. Russia is planning new measures to stabilise the rouble to try to stem its recent slump against the dollar. Its central bank said, if necessary, it would provide additional capital to Russia's banks and financial companies.

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