|
Oil prices climb above $59 a barrel
 Oil prices rose again Monday, after falling earlier in the day on last week's surge fueled by expectations of cold weather in major US markets. Light, sweet crude for March delivery rose 27 cents to $59.29 a barrel on the New York Mercantile Exchange by afternoon in Europe. Brent crude for March delivery on the ICE Futures exchange was still down 11 cents to $58.30 a barrel. The Nymex contract on Friday rose $1.72 to settle at $59.02 a barrel on colder-than-normal US weather and supply worries driven by a second round of OPEC production cuts.Oil prices had earlier fallen as low as $49.90 a barrel after an unseasonably warm January. Posted by: Fred 2007-02-06 |
| http://www.rantburg.com/poparticle.php?ID=179636 |