Oil Prices Rally On Tight Supplies

Tuesday, December 28, 1999
Crude oil prices bolted higher Monday as traders returned from a long holiday weekend to indications that exporting countries may extend the supply cuts that have helped double petroleum prices this year. Crude oil for delivery in February closed 46 cents higher at $26.33 a barrel on the New York Mercantile Exchange, but still failed to lift shares of companies such as Exxon Mobil Corp. and Chevron Corp. in stock market trading.

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