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Cold weather pushes US oil higher

World oil prices were mixed this evening, continuing to rally in New York from last week's four-month low point, but sliding in London as traders monitored weather patterns in the northern hemisphere.

Trading took place as OPEC chief and Kuwaiti Energy Minister Sheikh Ahmad Fahd al-Sabah ruled out any cut in oil production despite last week's sharp decrease in prices caused largely by mild weather in Europe and the US.

New York's main contract, light sweet crude for delivery in December, climbed 22 cents to $57.75 a barrel as the weather turned colder, but Brent in London fell six cents to $54.93, though it had spent much of the day in positive territory.