New York's benchmark contract, light sweet crude for delivery in January, rose to US$47.70 a barrel.
The oil price rise was triggered as data was released by the US Government indicating a fall in inventories of crude oil by 100,000 barrels to 293.8 million. Inventories of heating oil, a major concern with the onset of winter, eased 100,000 barrels to 49.9 million.
14-Feb-05 
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