Oil prices end slightly higher

Oil prices rode a roller coaster on Friday, fluctuating between advances and declines as equities markets also couldn’t decide whether to go up or down and investors weren’t sure whether or not a stimulus package of proposed tax cuts from US President George W. Bush would be sufficient to halt the slide toward recession.

In the end, and after New York equities markets declined on disappointment in Mr. Bush’s plan, February contracts for West Texas Intermediate crude stood 47 cents higher to $90.60 per barrel just before the close of floor trade on the New York Mercantile Exchange.

Meanwhile, Brent crude for March delivery added 27 cents to $89.02 per barrel on the ICE Futures Europe exchange in London.

Nymex February gasoline was up 3 cents to $2.29 per gallon and March heating oil gained a cent to $2.50 per gallon but March natural gas dropped 4 cents to $7.98 per million British thermal units.