The price of oil rose for the fourth day in a row Thursday, to above $97 per barrel, as an ongoing cold spell in parts of the U.S. boosted demand for heating oil.

U.S. crude for March delivery rose 59 cents to close at $97.32 a barrel in New York. Brent crude, a benchmark for international oil used by many U.S. refineries, fell 69 cents to close at $107.58 in London.