Oil rose for a third day as signs the physical market is tightening offset growing demand risks in China and the U.S.
There was also some support from wider markets, with European equities trading higher and U.S. futures also pointing to a firmer open on Monday. Meanwhile, some refined products such as diesel — the workhorse fuel of the global economy — have started pricing in scarcity this winter, boosting their premium to the oil from which they are made. Gasoline futures in New York have risen by 15 per cent this year, also outpacing crude.
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