Oil set for third straight weekly gain on winter fuel demand

Oil prices are rising due to increased fuel demand from icy conditions in the U.S. and Europe. Brent crude futures reached $77.16, while West Texas Intermediate hit $74.18. Analysts cite supply disruptions, low stockpiles, and improving Chinese sentiment as causes. U.S. and European cold spells are boosting heating oil demand, with supply tightness expected to continue.