Bad weather sends oil prices up

Crude oil prices were up when foul weather in Alaska forced a halt in loading at Valdez. Brent crude January contracts added $1.06 to $60.04 per barrel, while January delivery West Texas Intermediate crude was 96 cents higher to $59.76 per barrel. Meanwhile, in Belgium, the head of the International Energy Agency said that he cannot see any reason for OPEC to cut production again in December, as inventories are merely comfortable.