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Marketplace News|
Tuesday, December 6, 2005 - Web posted at 8:44:25 GMT Oil price above US$60 LONDON - Oil prices climbed above US$60 (N$384) a barrel for the first time in nearly a month yesterday, spurred higher by cold weather in the US Northeast, the world's biggest heating oil market. |
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But gains have been limited by reassurances from the Organisation of the Petroleum Exporting Countries, which meets in Kuwait on December 12, that it will carry on pumping at close to capacity. US light crude for January delivery was trading at US$60,08 a barrel, 76 cents higher, by 1131 GMT. The level was the highest since November 9. London Brent was up 89 cents at US$57,94. Temperatures have fallen below average in the US Northeast and are expected to stay there throughout the week. - Nampa-Reuters |
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