Oil prices slip below US $58 per barrelU.S. forecasters predict warmer weather, causing prices to drop; OPEC head expects $45-$55 a barrel oil through 2007 George Jahn Associated Press Writer
Crude futures fell Dec. 27 in thin post-Christmas trading, after U.S. forecasts of milder weather in the week ahead raised traders’ expectations of lower demand for heating fuels.
Prices fell despite the latest figures showing a drop in heating oil stocks.
Light, sweet crude for February delivery....
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Prices reacting to weather OPEC, Russia to meet annually
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