Oil Prices Increase

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Oil futures prices rose Monday, recouping some of a nearly $2 a barrel loss in the previous session that was partly based on expectations of declining winter fuel demand.


Light sweet crude for January delivery on the New York Mercantile Exchange rose 30 cents to $58.36 a barrel by afternoon in Europe. The contract had fallen $1.93 to settle at $58.06 Friday, its lowest close since Nov. 30. The January contract will expire Tuesday. February Brent crude futures on London’s ICE Futures exchange gained 33 cents at $57.33 a barrel.


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