Oil prices climbed by almost $2 a barrel Monday after OPEC agreed to keep its production level steady and cold weather raised concerns about rising demand for home-heating fuels.
Light sweet crude for January delivery on the New York Mercantile Exchange rose $1.91 to settle at $61.30 a barrel. Nymex heating oil futures gained more than 4 cents to close at $1.7725 a gallon, while natural gas rose 52.9 cents to settle at $14.841 per 1,000 cubic feet, about 15 cents below the record close set last week.
