As per a report, natural gas inventories rose by 53 billion cubic feet to 3.28 trillion cubic feet for the week ending 11 November. The rise removes fears of a shortage of home heating fuel ahead of the cold US winter. Crude oil prices fell more than a dollar per barrel to a five-month low on Thursday, as stocks of crude and heating oil seem to be rising. US light crude down to US$56.33 a barrel and in London, Brent crude for delivery in January fell to US$54.85 a barrel.
The value of OPEC's basket of crudes fell to US$49.73 a barrel. Will a fall in OPEC's own oil price fell below US$50 a barrel for the first time since June, trigger calls from some producers to cut output? Oil producers have grown accustomed to prices well in excess of US$50 after a two-year rally fuelled by strong demand from top consumer the United States and the rapidly expanding economies of China and India. In 2003, OPEC's crude price averaged just US$28.1. Opec is next due to meet to set output Dec. 12 in Kuwait
18-Nov-05 
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