Crude oil surged above 64 dollars a barrel in almost three months Friday on signs that economic growth will push fuel demand higher worldwide.

New York's main contract, light sweet crude for delivery in February, surged 1.42 dollars to close at 64.21 dollars per barrel, the highest close since Oct. 17.

In London, the price of Brent North Sea crude for February delivery soared 1.59 dollars to close at 62.72 dollars per barrel, the highest point since Oct. 4.

Oil prices have risen more than 10 percent in a week, largely owing to a Russia-Ukraine gas price dispute that was resolved Wednesday.

They have received additional support from concerns about peace in the oil-rich Middle East, where Ariel Sharon was clinging to life on Friday after suffering new bleeding in his brain.

OPEC delayed its production cuts until its next meeting on Jan. 31. Last month, the group decided to keep output the same to help countries get through the winter and high heating demand.

Crude prices climbed 40 percent and natural gas prices soared 94 percent in 2005 after hurricanes closed platforms and refineries in the Gulf of Mexico.

Source: Xinhua