Crude oil prices remain steady at slightly above $73 a barrel as tensions between key crude exporters Iran and Iraq decrease.

For January delivery, prices of crude declined by 14¢ to $73.22 a barrel at 8.56am GMT, while Brent crude increased by 25¢ to $74.02 a barrel, according to Reuters.

The cold wave across the north-east US and Europe supported prices of crude, which have increased from below $70 a barrel a week ago after government data depicted steep fall in US crude and distillate inventories.

A strong dollar, however, curbed gains, as it reached its highest point in over 90 days compared to the euro.