05:07 AM EST, 01/09/2025 (MT Newswires) -- Crude oil prices held steady early Thursday as investors weighed winter fuel demand outlook against large additions to U.S. fuel inventories.

Brent crude edged 1% lower to US$76.12 per barrel and West Texas Intermediate crude lost 0.2% to US$73.17/b at last look.

JPMorgan analysts said January oil demand is expected to rise by 1.4 million barrels per day year over year to 101.4 million b/d, mainly due to "increased use of heating fuels in the Northern Hemisphere," Reuters said in a Thursday report.

Data from the U.S. Energy Information Administration showed increases in gasoline and distillate stocks in the week ended Jan. 3.