Crude oil prices end lower before holiday break

Crude oil prices fell slightly Thursday, extending the decline to the fourth day ahead of Christmas holiday weekend.

On the New York Mercantile Exchange, crude oil futures for February delivery fell 6 cents to settle at 44.18 dollars a barrel. However, on London's International Petroleum Exchange the February Brent crude-oil futures contract rose 7 cents to end at 40.71 dollars a barrel.

Thursday's drop in prices was due to rising US energy inventories and mild winter weather in some parts of the country. Analysts believed that climbing inventories reported this week helped cool oil prices.

In New York, oil prices have risen about 36 percent so far this year.

The New York Mercantile Exchange will close tomorrow for Christmas holiday and reopen on next Monday.

Source: Xinhua