World oil futures rally
www.chinaview.cn 2006-12-20 07:28:09

    NEW YORK, Dec. 19 (Xinhua) -- World oil futures rallied Tuesday amid concerns over the supply in the Mexico Gulf Coast.

    New York's main contract, light sweet crude for delivery in January, rose 94 cents to close with 63.15 dollars a barrel.

    In London, Brent North Sea crude for February delivery was up 68 cents to settle at 62.81.

    Thick fog forced the closure of the Houston Ship Channel for the sixth consecutive day on Tuesday, creating a large backlog of tankers and other ships waiting to enter the United States' biggest oil and petrochemicals port, according to Reuters reports.     

    Meanwhile, this winter in northeast United States, the world's largest consumer of heating fuel, is warmer than normal. The National Weather Service said the northern United States will have higher-than-average temperatures till December 27. The warmer winter could boost the distillate stockpiles and weaken the fuel prices.

Editor: Liu Dan
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