Oil prices held steady Thursday, after dropping to their lowest level in a month
Oil prices held steady Thursday, after dropping to their lowest level in a month amid depressed demand for home-heating fuels.
Light sweet crude for February delivery rose 2 cents to US$60.36 a barrel in midmorning Asian electronic trading on the New York Mercantile Exchange.
A day earlier, crude futures settled below US$61 a barrel for the first time since Nov. 28, when prices ended at $60.99. It was the fourth straight day of falling prices.
Natural gas also took a dive from the lessened demand due to mild U.S. weather, settling Wednesday at US$5.838 per 1,000 cubic feet, their lowest level in more than 12 weeks.