Oil steady after tumble from 3 month high
ReutersPosted: December 22nd, 2006 by Thomas L. Knapp
“Oil prices hovered below $63 a barrel on Friday after falling from a three-month high in the previous session on unusually warm weather in the United States Northeast. U.S. crude was up 15 cents at $62.81 a barrel by 0916 GMT, pausing after a more than $1 tumble from Wednesday’s highest close for three months. London Brent crude rose 14 cents to $62.60 a barrel. The U.S. National Weather Service on Thursday joined a chorus of private forecasters predicting that mild weather would persist into January, extending a period of above average temperatures that has lowered demand for heating fuels.” (12/22/06)
