As the cold season gets underway heating oil demand has risen and boosted the price of crude. The overall weakness of the US dollar has appreciated the prices of commodities based on the US currency
Oil jumped 2% Monday on optimism about the pace of global economic recovery and as cold weather across the United States boosted fuel demand.
The National Weather Service said total U.S. heating demand will be higher than normal this week as the first seasonal wave of cold weather hits the Northeast and Midwest.
U.S. crude rose $1.50 to settle at $73.27 a barrel, the highest settlement since Aug. 24.
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