SEOUL – Oil prices recouped light losses yesterday, climbing above US$59 a barrel as the coldest weather of the US winter was expected to draw down distillate stocks.
US crude oil futures gained to US$59,11 a barrel, following a loss of 28 cents a day ago after Nigerian unions called off a strike in the world’s eighth-largest exporter. London Brent crude gained 40 cents to US$58,50.Oil rallied to a one-month peak of US$59,95 on Monday.London Brent crude gained 40 cents to US$58,50.Oil rallied to a one-month peak of US$59,95 on Monday.
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