Crude gains on speculation of US demand increases

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Crude prices were little changed after gaining last week on speculation that cold weather in the US will increase heating demand.

 

US crude futures edged up, seeking to build on last week's gains as dealers awaited further signs of OPEC cuts and cast an anxious eye on Saudi oil facilities amid heightened security activity.

Currently, crude is trading at USD 60.80 per barrel, up 05 cents in after hours access trading on the Nymex.