Skip to content
Subscriber Only

Oil Trades Near Two-Year High on Bets Weather Will Boost Demand

Crude traded near a two-year high in New York on speculation that cold weather in the U.S. and Europe will boost demand in industrialized nations.

New York, the biggest city in the world’s largest oil consumer, suffered the heaviest December snows in six decades as storms spread across the eastern U.S. Oil fell yesterday after China raised benchmark lending and deposit rates.