Oil Prices Rise Near $99 As Temps Fall

Oil Prices Rise Near $99 As Temps Fall

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Oil prices rose to near $99 a barrel Monday with temperatures falling in the United States and Europe and continued weakness for the U.S. dollar.

The Thanksgiving holiday on Thursday marked the unofficial start of winter in the United States. Among other areas, southeastern New Mexico got up to 9 inches of snow and experienced colder than normal temperatures over the holiday weekend. Snow also fell in Germany over the weekend.

\"The onset of cold U.S. weather is going to boost fuel demand,\" said Victor Shum, an energy analyst with Purvin & Gertz in Singapore.

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Not good. Not good at all.

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