After dropping on Wednesday to the lowest level in a month due to low demand for home-heating fuels, oil prices rose on Thursday. Light sweet crude for February delivery rose to US$60.56 a barrel in electronic trading on the New York Mercantile Exchange by midday in Europe. February Brent crude on London's ICE Futures exchange rose to US$60.60 a barrel.
Mild weather is expected to keep energy prices down for another couple of weeks. Key factors pressurizing prices are production cuts by OPEC, the geopolitical flare-ups around the world and milder weather in USA.
28-Dec-06 
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