"Natural gas and colder weather expected for the US next week are driving the whole complex higher," said Frederic Lasserre of SG Commodities.
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Crude Reached Six Week Hichest Level
Crude oil prices climbed more than $2 on Thursday to their highest level in six weeks
Crude oil prices climbed more than $2 on Thursday to their highest level in six weeks.
US light crude was up $2.03 (4.5 per cent) to $48.40 a barrel on the Ney York Mercantile Exchange. London?s IPE Brent crude rose $1.62 to $45.30, while US heating oil gained more than 3.4 per cent.
"Natural gas and colder weather expected for the US next week are driving the whole complex higher," said Frederic Lasserre of SG Commodities.
Natural gas futures in New York were up 52.7 cents to $6.47 per million British thermal units as frigid weather arrived in the US heartland. Natural gas is by far the most used heating fuel in the Midwest.
"Natural gas and colder weather expected for the US next week are driving the whole complex higher," said Frederic Lasserre of SG Commodities.
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