The price of oil rose Monday, continuing its climb for a seventh straight week supported by U.S. demand for heating oil amid prolonged cold weather, AP reported. Benchmark U.S. crude for April delivery was up 28 cents to $102.48 a barrel at 0620 GMT in electronic trading on the New York Mercantile Exchange. The contract fell 55 cents to $102.20 on Friday. Despite losses on Friday, oil was up 2 percent over the week amid rising demand for heating oil in the U.S. A slower increase in Chinese property prices has added to jitters about the strength of the world's No. 2 economy. A report on manufacturing in China last week suggested global economic growth could weaken, which would reduce demand for gasoline, diesel and jet fuel. Brent crude, which is used to set prices for international varieties of crude, added 18 cents to $110.03 on the ICE exchange in London.
