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Oil prices rise as Europe freezes

Singapore - Crude oil prices rose in Asian trade on Wednesday as freezing temperatures and heavy snowfall in Europe boosted demand for heating fuel, analysts said.

New York's main contract, light sweet crude for January delivery, gained 42 cents to $84.53 a barrel in the afternoon.

Brent North Sea crude for January advanced 36 cents to $86.28.

Energy demand is being bolstered by plummeting temperatures and heavy snowfall across Europe, Barclays Capital said in a report.

"Some price support has come from estimates of colder-than-normal temperatures in Europe, pointing to strong seasonal demand for heating oil," it stated.

The chill severely disrupted German and British airports, forced schools in England and Scotland to shut down and caused chaos and deaths on European roads.

It was so cold in France that electricity network RTE warned of cuts in the supply as the country looked set to top record demand levels while 20% of high-speed train services to the hard-hit southeast were cancelled.

Switzerland suffered its coldest November night for 45 years as temperatures plunged below minus 30 degrees Celsius, according to national weather service Meteosuisse.

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