http://news.moneycentral.msn.com/breaking/breakingnewsarticle.asp?feed=OBR&Date=20031013&ID=2947440NEW YORK (Reuters) - Oil prices bubbled at strong levels on Monday holding almost all of a price surge last week on fears of a winter supply shortage as OPEC producers cut output.
U.S. light crude CLc1) settled down two cents to $31.95 a barrel. London Brent crude LCOc1) settled down 23 cents at $30.67 a barrel, still nearly 20 percent higher than before OPEC's September 24 decision to cut output.
The prospect of tight stocks for the looming northern winter has driven a two- and-a-half week bull run which has pushed prices to their highest levels since the Iraq war.
U.S. heating oil stocks were 8.6 million barrels below their five-year average, according to the most recent government data released last week.
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another story that is sliding under the wires - prices are definitely going to affect the consumer
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