Cold weather behind Thursday’s gain in crude oil prices

The cold weather in the U.S. and Europe sent crude oil prices climbing by more than 1% on Thursday.

Demands for winter fuel were behind the increase. Gains came one day after both benchmarks fell 1% on Wednesday.

West Texas Intermediate crude rose 84 cents or 1.15% to settle at $74.16 a barrel on the New York Mercantile Exchange.

Brent crude, the global standard, increased 98 cents or 1.29% and finished at $77.14 a barrel.. On Wednesday, both benchmarks had fallen more than 1%.

Oklahoma energy stocks had another split day of trading as those with gains narrowly outnumbered the losers.