Oil prices held above US$60 upon release of data by the US government showing a significant drop in domestic gasoline inventories last week. Light, sweet crude for February delivery rose to US$61.04 a barrel on the New York Mercantile Exchange in European electronic trading. Heating oil rose slightly to US$1.7698 a gallon, while gasoline prices dipped to US$1.7274 a gallon. Natural gas trading appeared largely unaffected by a pricing dispute between Russia's Gazprom and Ukraine that is threatening European gas supplies.
03-Jan-06 
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