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Brent Oil Near Six Week High above $109

U.S. oil futures touched a six-week high on Monday, extending steep gains from the previous session, as a continuing cold snap kept demand for heating fuel high and raised concerns over tighter supply.

A drop in the U.S. unemployment rate to a five-year low which boosted Wall Street on Friday also underpinned sentiment.

U.S. crude for March delivery climbed 37 cents to $100.25 by 0040 GMT on Monday, after hitting $100.46 earlier in the session, the highest since Dec. 27.  March Brent crude rose 4 cents to $109.61, after hitting a session high of $109.75, its loftiest since Jan. 2.

CNBC [1]

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