A hike in US heating fuel stocks has eased worries of a possible supply shortage, causing oil prices to dip. New York's main contract, light sweet crude for delivery in January, dipped to US$57.25 and in London, the price of Brent North Sea crude for January delivery slid to US$54.87 per barrel.
The US Department of Energy reported that inventories of distillate supplies, used to make heating oil and diesel fuel, had risen by 3.4 mln barrels to 127.9 mln during the week to November 25. Heating fuel stockpiles are now more than 12% higher than at the same stage last year.
02-Dec-05 
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