Crude oil price increases limited by mild weather

Crude oil prices were up slightly on Tuesday after declines earlier in the session as the US National Weather Service said that heating oil demand would likely be 25 percent below average this week as mild weather persisted in the Northeast and Midwest regions of the nation. Brent crude February contracts were up 3 cents to $62.16 per barrel by late afternoon in London after having declined by 66 cents earlier in the session. In late morning trade on the New York Mercantile Exchange, West Texas Intermediate Crude for January delivery was 10 cents higher to $62.32.