From The Los Angeles Times, 12/31/05:
http://www.latimes.com/business/la-fi-oil31dec31,1,5936072.story?coll=la-headlines-business
Oil Prices Surge and May Keep Going Up
By Elizabeth Douglass, Times Staff Writer
The year ended in fitting fashion for the petroleum world Friday:
Oil futures prices jumped higher.
So did gasoline, natural gas and heating oil contracts.
And consumers can expect more of the same in 2006.
Spurred by supply worries that will stretch into next year, traders
sent the cost of crude oil for February delivery up 72 cents to $61.04
a barrel Friday in a holiday-shortened session on the New York
Mercantile Exchange.
Oil prices rose 4.5% on the week and finished $17.59 a barrel, or 40%,
higher than on the final trading day of 2004.
Gasoline futures jumped 5.76 cents to $1.71 a gallon, 57% higher than
a year earlier.
Heating oil rose 2.51 cents to $1.728 a gallon on the Nymex, up 41%
during 2005.
Natural gas, which ended the year more than 80% higher than it
started, rose 0.2 cent to $11.225 per million British thermal units.
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Harry
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