Crude futures opened the week slightly higher on predictions a cold snap was headed for the northeastern U.S., the world’s biggest winter heating fuel market.
Light sweet crude for December delivery rose as high as $58.20 a barrel in electronic trading on the New York Mercantile Exchange, before slipping to $58.07. The contract fell to $56.93 a barrel last week before closing at $57.53 Friday. December Brent crude on London’s International Petroleum Exchange was 76 cents higher at $55.65 a barrel.
