Crude prices rose Monday, extending their recent surge above $51 a barrel amid concerns about continuing cold weather in the Northeast and the possibility OPEC will cut production in March.
Light, sweet crude for April delivery rose 39 cents to $51.88 a barrel on the New York Mercantile Exchange by afternoon in Europe. Prices for heating oil also rose by about 3 cents to $1.4850 a gallon. On London’s International Petroleum Exchange, Brent oil was unchanged from the opening at $50.
*For more on this story,
read the full Associated Press article
.