An anticipated colder than normal weather in the US northeast for the next two weeks have pushed oil prices up. The northeastern region accounts for about 80% of total US demand for heating oil. New York's main contract, light sweet crude for delivery in January, rose to US$58.91 per barrel in electronic dealing and in London, the price of Brent North Sea crude for January delivery rose to US$56.79 per barrel.
Stronger-than-expected US data are expected to push oil prices higher as any increase in economic activity usually entails higher energy demand.
05-Dec-05 
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