Crude prices rise slightly on positive consumer confidence, cold weather

Crude prices rose slightly on Tuesday as confidence among U.S. consumers improved in December while cold weather hit the United States.

The Conference Board's index on expectations for the next six months climbed to 75.6, the highest since the recession began two years ago.

Crude prices were also boosted by colder U.S. weather and expectations that weekly data would show another fall in U.S. inventories.

Light, sweet crude for February delivery was up 10 cents to settle at 78.87 U.S. dollars a barrel on the New York Mercantile Exchange, the highest close since mid-November.

In London, Brent crude for February delivery rose 32 cents to settle at 77.64 dollars a barrel on the ICE Futures exchange.

Source: Xinhua