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Brent crude prices reached a new two-year high in the Asian trade on Wednesday as oil continued rallying on cold weather and bullish energy demand from China.
Brent North Sea crude for February delivery rose 29 cents to $93.49 per barrel — its highest level since October 2008. The contract had closed at $93.20 on Tuesday after setting a two-year high in intraday trade.
New York’s main contract, light sweet crude for delivery in February gained 11 cents to $89.93.
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