Crude oil prices rose on Wednesday on forecasts of snow storms in the Midwest and Northeast of the United States.

Light sweet crude for March delivery rose 33 cents to 55.37 dollars on the New York Mercantile Exchange.

March Brent crude on London's ICE Futures exchange rose 33 cents at 55.43 dollars a barrel.

Crude prices rebounded above 55 dollars a barrel Tuesday as President George W. Bush's announcement to boost the nation's emergency oil stockpile.

Source: Xinhua