Oil Rises on Tight US Stocks as Winter Blast Hits

Oil Rises on Tight US Stocks as Winter Blast Hits
Pumpjacks are seen against the setting sun at the Daqing oil field in Heilongjiang Province, China, on Dec. 7, 2018. Stringer/Reuters
Reuters
Updated:

LONDON—Oil prices climbed for a fourth straight day and hit their highest in two and a half weeks on Thursday with U.S. crude, heating oil, and jet fuel stocks growing tighter just as a wintry blast hits the United States.

Brent crude futures gained $1.17, or 1.4 percent, to trade at $83.37 at 1235 GMT, extending gains of around 2.7 percent from the previous session.