Oil price rally ... colder-than-normal weather in the Northern Hemisphere. WTI crude oil (CL) trades around $76.50 per barrel, maintaining positive momentum on short-term charts.

During the winter, homes and offices in the US and Europe use fuel for heating. Recent forecasts indicate cold weather in the country, which could prop up demand for oil and gas for heating.

This increase is linked to an outage at the Freeport LNG terminal in the US caused by freezing weather and power ... The daily chart for WTI crude oil shows that the price has formed strong ...