US government data showing US crude stocks falling for a sixth straight week helped extend this week's gains. Disruptions from Alaska and Norway stoked supply concerns and cold weather in the US Northeast fed demand for heating oil.

Oil's climb back toward US$100 a barrel, last touched in October 2008, has raised concerns about the impact of higher fuel costs on the tenuous economic recovery.

Crude's rise on January 12 was part of wider gains across commodities, with metals rising and soybean and corn futures touching 30-month highs that further stocked economic worries.

London Brent oil, benchmark for European, Middle East, and African crudes, rose 51 cents to settle at US$98.12 a barrel, after touching US$98.85 a barrel earlier, the highest level since October 1, 2008.

Brent held its strong premium to US crude, which settled up 75 cents at a 27-month high of US$91.86 a barrel.

The premium widened this week after disruption of two North Sea oil fields and the shutdown of the Alaskan crude pipeline, which had raised concern Pacific Basin refiners would have to find alternatives from Russia and the Middle East.