Near-record oil prices rose on Monday as natural gas futures rallied on forecasts for cool U.S. weather.
Natural gas futures rose more than 36 cents to above $7.13 per million British thermal units. Temperatures in New York and Chicago were expected to remain several degrees below normal this week, according to AccuWeather.
U.S. light crude rose 52 cents to $54.95 a barrel, after touching a high of $55.05, on the New York Mercantile Exchange. In London, Brent oil futures rose 56 cents to $53.65 a barrel on the International Petroleum Exchange.
