Oil prices stable after heavy falls due to easing supply fears

LONDON (AFP) - Oil prices steadied after sharp falls the day before caused by easing worries over possible shortages of US heating oil stockpiles with winter fast approaching in the northern hemisphere.
New York's main contract, light sweet crude for delivery in December, edged down three cents to 47.39 dollars a barrel in electronic trading at about 0930 GMT, after plunging by 1.44 dollars on Thursday.
Brent North Sea crude for December was eight cents higher at 43.10 dollars in London, having closed down 1.73 dollars the day before.
Prices fell sharply Thursday a day after data showed that US crude oil inventories had increased by 1.8 million barrels to 291.5 million in the week to November 5.
The rise in crude inventories helped to offset a further drop in stockpiles of US heating oil.

11/12/2004 - 11:32 GMT - AFP