Oil prices continued above $91 a barrel today, after falling the previous day as the dollar strengthened and the shut-down Trans-Alaska pipeline resumed operations.

Crude for the February delivery contract, which expires on Thursday, stood at $91.09 a barrel by 00.08 GMT, while ICE Brent for March added 18¢ to $97.61 a barrel, reports Reuters.

The Trans-Alaska crude oil pipeline, which was closed because of a leak, resumed operations on 17 January 2011, regaining its full capacity flow of 500,000 barrels per day, which is equivalent to about 12% of the US’s total oil output.

OPEC increased its global oil demand growth forecast by 50,000 barrels a day to 1.23 million barrels a day in 2011.

The world oil market remained well supplied and inventories should build in the first half of the year, according to OPEC.

International Energy Agency head Nobuo Tanaka said that oil prices were alarming at current levels and would have a negative impact.