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| Oil prices rise  Oil prices rose, reflecting rumors that OPEC may trim output to bolster prices amid lower consumption forecasts. Light, sweet crude for October delivery on the New York rose 42 cents to USD 63.75 a barrel in electronic trading by afternoon in Europe. Brent crude rose 47 cents to USD 63.80 on the ICE Futures exchange. The Organization of Petroleum Exporting Countries said, on Friday, fourth-quarter demand for its oil would be 28.86 million barrels per day. Traders are expecting demand for distillates including heating oil to pick up ahead of the Northern Hemisphere winter, however. Heating oil rose more than 2 cents at USD 1.7232 a gallon, unleaded gasoline gained nearly a cent to USD 1.5830 a gallon.write your comments about the article :: © 2006 Construction News :: home page |