Crude oil futures prices rose slightly Tuesday on forecasts for milder weather next week for the blizzard-hit U.S. Northeast and on concerns about Sunday's OPEC meeting and potential militant attacks on Iraq's oil infrastructure.
Light sweet crude for March delivery was up 5 cents at $48.86 a barrel during afternoon electronic trading in Europe in advance of the opening on the New York Mercantile Exchange. Heating oil for February delivery rose less than a cent to $1.4073 per gallon.
In London, Brent for March delivery was 2 cents higher at $46.03 a barrel on the International Petroleum Exchange.
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