Light, sweet crude for February delivery fell 6 cents to US$94.1 a barrel in Asian electronic trading on the New York Mercantile Exchange by mid-morning in Singapore.
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Crude Oil: Rise and Fall
The US National Weather Service is calling for below-normal temperatures across most of the country
Oil prices were nearly flat on Tuesday after climbing more than US$1 a barrel in the previous session as forecasts for colder weather in the United States raised expectations of increased fuel demand.
The US National Weather Service is calling for below-normal temperatures across most of the country over the next two weeks. The Midwest is a major consumer of natural gas, while the northeastern United States is the world's largest market for heating oil.
Gasoline inventories are expected to have risen 23 million barrels, according to the survey, while distillate inventories, which include heating oil and diesel fuel, are forecast to have grown 1.2 million barrels.
Light, sweet crude for February delivery fell 6 cents to US$94.1 a barrel in Asian electronic trading on the New York Mercantile Exchange by mid-morning in Singapore.
Light, sweet crude for February delivery fell 6 cents to US$94.1 a barrel in Asian electronic trading on the New York Mercantile Exchange by mid-morning in Singapore.
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