Oil prices fell Monday as traders took profits, but the losses were limited by forecasts of more cold weather across the eastern United States. An unusually warm winter in the United States drove crude-oil prices below $50 a barrel earlier this month, but since then has risen about 10 percent as cold weather returned. Forecasters predicted below-normal temperatures along the U.S. east coast would continue into at least the first week of February. The northeastern United States accounts for 80 percent of the country's use of heating oil, the Energy Department says. Light sweet crude for March delivery fell 20 cents to $55.22 a barrel in late morning trading on the New York Mercantile Exchange after rising as high as $55.96 and falling as low as $54.60. Traders also were watching reports about how many OPEC members were complying with the cartel's pledges to reduce output.
