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Oil Rises in Light Trading Amid Christmas Week
Oil prices advanced on light trading Friday with February crude up 2.36 to 37.71 a barrel on the NYMEX, and February Brent rising to 38.45 on ICE Futures. Retail gasoline slipped to a national average of 1.642 per gallon as prices lag behind year earlier levels. OPEC members face calls to tighten supply as reactions to quota cuts surface and market awaits Kuwaiti talks on January 19 and March 15 Vienna meeting. MasterCard SpendingPulse notes holiday sales dips, while auto and gas excluded figures show declines of 2 to 8 percent year over year.
MENTIONED IN THIS ARTICLE
New York Mercantile Exchange
London
ICE Futures Exchange
AAA
Oil Price Information Service
Opec Mem
Olivier Jakob
Petromatrix
Switzerland
OPEC
Kuwait City
Vienna
MasterCard
Tom Kloza