Oil prices strengthened in Asia amid low volumes, but look wobbly in early Europe as concerns of excess supply and risk-off in equities cap gains. At the time of writing, the Brent futures were trading largely unchanged on the day around USD 32.90/barrel. Across the pond, the WTI futures were up 30 cents or 1% at USD 30.00/barrel. Prices nosedived on Monday after the meeting between Venezuela and Saudi Arabia held over the weekend failed to end with a constructive deal. However, prices ticked higher in Asia today; something we had seen on Monday as well. Major Asian markets are closed on account of Lunar New Year holidays. For more information, read our latest forex news.