LONDON -- Crude-oil futures extended their surge to 15-month highs Monday amid strong Chinese import data and a weaker dollar.
In late morning trading, the front-month February Brent contract on London's ICE futures exchange was up $0.94 at $82.31 a barrel after earlier hitting a 15-month high at $82.45 a barrel.
"Strong imports figures are suggesting demand is only moving upwards," said Torbjorn Kjus, oil-market analyst at DnB NOR in Oslo.
The front-month February contract on the New York Mercantile Exchange was trading $1.09 higher at $83.84 a barrel after earlier touching a 15-month peak at $83.95 a barrel.
The ICE's gasoil contract for January delivery was up $11 at $667.25 a metric ton, while Nymex gasoline for February delivery was up 297 points at 218.50 cents a gallon.
