Prices are up 51 percent for the year, despite a slide from October's all-time $55.67 high, as low U.S. heating fuel stocks and strong European demand feed fears that the northern hemisphere is ill prepared to deal with a severe winter.
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Oil Price Can Reach $50 Again
Threat of low global heating oil inventories ahead of winter will make prices reach the $50 level
U.S. oil prices slid a bit on Monday after a four-day break, caused by Thanksgiving day and weekend, but the threat of low global heating oil inventories ahead of winter will make prices reach the $50 level.
U.S. crude oil futures dropped18 cents to $49.26 a barrel in their first day of trade since last Wednesday on the NYMEX.
Prices are up 51 percent for the year, despite a slide from October's all-time $55.67 high, as low U.S. heating fuel stocks and strong European demand feed fears that the northern hemisphere is ill prepared to deal with a severe winter.
Prices are up 51 percent for the year, despite a slide from October's all-time $55.67 high, as low U.S. heating fuel stocks and strong European demand feed fears that the northern hemisphere is ill prepared to deal with a severe winter.
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