U.S. Northeast: New York Mercantile Exchange

New York Mercantile Exchange: Benchmark West Texas Intermediate crude for March delivery rose 46 cents to close at US$97.84 a barrel on the New York Mercantile Exchange, after earlier rising near US$99, according to 660 News. With chilly temperatures across the middle of the United States and into the U.S. Northeast, demand for heating oil remains strong. That should boost refineries need for crude oil and NEW N.Y. The prices of oil rose Thursday as a positive report on the U.S. labor market and more cold temperatures boosted expectations of higher demand for heating oil. The U.S. Labor Department said the number of people applying for U.S. unemployment benefits declined 20,000 last week to 331,000, suggesting that Americans are facing fewer layoffs and better job prospects. Those figures came a day before a widely anticipated report on January employment. (www.immigrantscanada.com). As reported in the news.