Oil rose on Monday to touch a five-week high over $79 US a barrel as expectations of colder weather in the United States and signs of economic recovery boosted the outlook for fuel demand. Concerns about unrest in Iran and the dispute between Russia and Ukraine over transit fees for crude oil going to Europe also were supportive, sources said. The market also expected this week's oil inventory reports to show crude oil and distillate inventories fell last week. On the NewYork Mercantile Exchange, February crude rose 72 cents US, or 0.92 per cent, to settle at $78.77 US a barrel.
