Oil futures rose sharply early Friday, trading at their highest since October with support tied to cold weather in the U.S. and elsewhere and supply concerns.

Oil prices settled higher on Tuesday, driven by concerns over limited supply from Russia and Iran because of Western sanctions and expected higher Chinese demand.

She then joked that maybe Mexico should FOX 29's Weather Authority is tracking another storm that could bring more flakes to the Philadelphia area just days after its first significant snowfall this winter.

Oil futures settled with a loss on Wednesday after the U.S. Energy Information Administration reported that commercial crude inventories fell for a seventh straight week, but gasoline and distillate stockpiles climbed by more than 6 million barrels each.

Oil prices surged on Friday and were on track for a third straight week of gains as traders focused on potential supply disruptions from more sanctions on Russia and Iran. Brent crude futures gained $2.