Crude up big with gasoline and diesel to follow shortly

The Crude Oil markets experienced an extraordinary 6 percent climb in the 4 trading days prior to the Christmas Holidays thanks mainly to cold temperatures gripping much of the US. Crude Oil futures for February delivery settled at $78.05, up $1.38 dollars on Thursday while prices for the week rose over $4.50 with speculators betting on improving demand. On the supply side, data released by the US DOE last Wednesday showed crude stocks falling by 4.9 million barrels to 327.5 million, far above the 1.1 million-barrel decline expected. At an OPEC meeting held in Angola on Tuesday, members decides against any change in the cartel's ?[i]official[/i]? crude oil output levels.