Crude oil prices rallied above 51 dollars on Friday as traders built long positions at the low price levels ahead harsh weather.

New York's main oil futures contract, light sweet crude for delivery in February, rose 1.51 dollars to 51.99 dollars per barrel.

In London, the price of Brent North Sea crude for delivery in March rose 1.69 dollars to 53.44 dollars per barrel.

Crude oil prices dived to lowest level since May 2005 on Thursday after U.S. crude inventory jumped far more than expectations.

Through next week, the harsh cold will cover the Northeast United States, the world's largest consumer of heating fuel, according to weather forecasters. The cold weather could weaken the distillate stockpiles and boost prices.

Source: Xinhua