Source Pravda.Ru

Oil prices: $55 invisible barrier

Global crude oil prices boiled higher as investors sweated over thin stocks of US winter heating fuel, strained crude supplies and rampant energy demand.

New York's light sweet crude for delivery in December -- a new contract after the November-dated security expired Wednesday -- rose six cents to close at 54.47 dollars. Brent North Sea &to=http:// english.pravda.ru/chechnya/2000/10/24/431.html ' target=_blank>crude oil for December climbed 20 cents to 50.72 dollars.

"It's a continuation of the upward trend," said Refco market analyst Marshall Steeves.

Heating &to=http:// english.pravda.ru/world/20/91/368/14250_Chavez.html ' target=_blank>oil prices were climbing because of lower inventories, revealed in a weekly update Wednesday, he said, wrote Turkish Press.

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