Oil prices surge to US$91.87
Crude oil prices surged today, as bitterly cold weather in Europe and the United States boosted expectations of rising heating fuel demand over the Christmas holiday period.
Brent North Sea crude for delivery in February climbed 20 cents to US$91.87 a barrel in London trade.
New York's main contract, light sweet crude for January delivery, gained 29 cents to US$88.31.
After a weekend of disruption at major European hubs such as London, Paris, Frankfurt, Amsterdam and Brussels, airports struggled to clear the backlog as passengers tried to reach their destinations in time for December 25.
Crude oil markets, meanwhile, were building on gains made on Friday as trader sentiment was buoyed by the strong US figures.
