Oil prices were steady at lower levels ahead of the long weekend in the US, after taking a dent yesterday when it was revealed that US crude stocks rose against expectations. At 11.40 am, August-dated Brent futures contracts were down 9 cents at 56.08 usd a barrel. Dealers noted that US traders will leave early on Friday ahead of the 4th of July public holiday on Monday -- a factor than may already be dampening activity levels. Oil futures dropped heavily yesterday after weekly US stock data showed that crude inventories rose against expectations of a fall, now well off Monday's record high of 60.95 usd. While prices are steady for now, they may eventually have to go lower, Sucden broker Robert Montefusco believes. "Yesterday' report revealed US stocks rose. It was not at all what we were expecting, so there is no real reason for prices to be where they are at the moment," said "US benchmark futures should be trading around the 55 dollars a barrel mark, given the stock situation," he added. "There is a lot of crude around and the refineries have been performing well, and there isn't any real supply problem at the moment so a correction is expected," Montefusco said. But some sections of the market may still be looking signs that demand is slowing down before choosing to sell. In its weekly report released yesterday, the US Department of Energy said crude stocks had risen 1.1 mln barrels to 328.5 mln, and refinery runs also rose an unexpected 1.5 pct to 96.3 pct. The report also showed that US crude imports, which have been steadily above 10 mln bpd over recent months, very nearly reached 11 mln barrels. All eyes will be on the gasoline figure in the next report, delayed until next Thursday, to review the demand and stocks situation, Montefusco said.