Oil prices got stuck near $52 a barrel on Monday on a very cold and snowy weather in the US Northeast , which threatened to tighten heating oil supplies, which are strained even without that.
US light crude futures gained 26 cents to $51.75 a barrel on the NYMEX. London's Brent crude rose 35 cents to $50.06 a barrel on the International Petroleum Exchange.
US demand for heating oil was expected to rise about 14 per cent above normal this week as a major winter storm ran the length of the East Coast, leaving snow and frosty temperatures in its wake, according to the US National Weather Service.
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Oil Price Not Slumping
Oil prices got stuck near $52 a barrel on Monday on a very cold...
