Oil rises on expectation high natural gas to drive switch for heating

Topics Oil prcies | Brent crude


By Yuka Obayashi TOKYO (Reuters) - Oil prices rose on Thursday, reversing previous losses, on expectations that high natural gas prices as winter approaches may drive a switch to oil to meet heating demand needs. Brent crude futures gained 28 cents, or 0.3%, to $83.46 a barrel at 0107 GMT after falling 0.3% on Wednesday. U.

S. West Texas Intermediate (WTI) crude futures climbed 22 cents, or 0.3%, to $80.66 a barrel, after dropping 0.3% the previous day. "Investors bet that surging gas prices will encourage power generators.

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