Crude oil futures closed just south of $49 a barrel Monday as a weekend blizzard in the U.S. Northeast boosted demand for heating oil.

U.S. light crude ended 28 cents higher at $48.81 a barrel on the New York Mercantile Exchange, building on Friday’s $1.22 rally. London Brent crude added 28 cents to $46.01 a barrel on the International Petroleum Exchange, after touching its highest level since Nov. 30 in early trade.