Energy Prices Rise Amid Cold U.S. Weather
ACTION ECONOMICS : Energy prices rose on Monday amid cold weather in much of the U.S.
January NYMEX crude settled up 59 cents per barrel at $59.91, after ranging between $59.60 and $60.80 in N.Y. trade. The remainder of the complex was mixed, with heating oil adding 1.3%, while natural gas and gasoline slipped 2% and 1%, respectively. The January natural gas contract peaked at $14.45 before sliding back to close at $13.60.
Investors continued making bets on how the Organization of Petroleum Exporting Countries will move on its output, ahead of the organization's meeting next week.