Oil prices rise amid cold weather and demand for heating fuel.
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Maroc - FINANCIALMIRROR.COM - A La Une - 10/Jan 09:28
WTI rises to $74 on likelihood of heating fuel demand
West Texas Intermediate extended gains for the second successive session, trading around $73.90 per barrel during the European hours on Friday. Crude oil prices are bolstered by expectations of higher heating fuel demand due to extended cold weather across the northern hemisphere. The U.S. Weather Bureau predicts below-average temperatures in central and eastern regions of the country. Similarly, much of Europe has been gripped by severe cold and is likely to face an unusually chilly start to the year. According to Reuters, analysts at JP Morgan credit the oil price increases to mounting concerns over supply disruptions caused by tighter
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