"Despite growing oil production, and record inventories, prices were little changed last week, with NY oil hovering around $95 and London around $104. Although demand for oil remains weak across much of the world, a stronger dollar and hopes that the US economy is starting to grow supported prices. The economic news from Europe was almost universally bad, mixed from China and the US, and better from Japan. US crude inventories, which are now at their highest level since 1931, fell slightly last week as refining increased.