0
LONDON, Dec 2: Oil prices bounced back on Tuesday from the previous day’s falls as traders covered positions amid forecasts for cold weather in the United States and ahead of weekly data for US energy stockpiles.
The price of reference Brent North Sea crude oil for January delivery was up 70 cents to $28.95 per barrel.
New York’s reference light sweet crude January contract rose 83 cents to $30.78.
Quiet early trade was sparked into life by a bout of cautionary buying as traders pondered forecasts of cold weather for the US, as well as weekly market-sensitive data from the US Department of Energy.—AFP
