LONDON, Jan 6: Oil prices rose back above $50 on Tuesday as the energy market was shaken by disruptions to gas supplies across Europe, where a cold snap boosted demand.

Brent North Sea crude for delivery in February jumped $1.11 to $50.73 a barrel in late trade on London’s InterContinental Exchange.

Earlier ON Tuesday it reached $52.21 -- the highest level since December 1, 2008.

New York’s main contract, light sweet crude for February, climbed 24 cents to $49.05 per barrel, after an intra-day peak of $50.47.

Oil prices had already risen sharply on Monday as the Israeli-Palestinian conflict intensified and major crude producer Iran said Opec would hold a special meeting next month.

Crude futures have been boosted over the past week as the conflict in Gaza stoked tensions in the key oil-producing Middle East.—AFP