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Home >> Business
UPDATED: 10:53, February 27, 2007
Crude oil prices extend rise above 61 dollars
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Crude oil prices rose on Monday as winter storm in the United States boosted heating oil demand.

A winter storm has hit the U.S. Northeast, the world's major heating oil market, spurring heating oil demand.

Light sweet crude for April delivery added 25 cents to 61.39 U. S. dollars, the highest close since Dec. 22.

April Brent crude on London's ICE Futures exchange gained 45 cents at 61.33 dollars a barrel.

Crude prices rose above 61 dollars last week as traders were concerned over possible supply halt by Iran.

Iran is OPEC's No. 2 producer following Saudi Arabia, pumping 4 million barrels of crude oil and exporting 2.4 million barrels per day.

Source: Xinhua


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