Crude-oil futures ended a bit lower Monday after rallying to within five cents of $60 on forecasts of continued cold weather.
Here is Monday’s roundup of oil and energy news:
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CONOCO IN DISPUTE WITH CNOOC: ConocoPhillips has asked for arbitration in a dispute with Cnooc over costs incurred because of Beijing’s windfall tax on oil sales, according to people familiar with the situation. The move and its outcome will be closely watched by other foreign energy companies whose production contracts with China’s largest offshore oil producer state that any new government-imposed rule that causes a material change in their returns can be challenged outside China.