Heat oil and butter in large skillet or Dutch oven over medium-high heat. Add parsley and garlic; sauté until garlic just begins to color, about 45 seconds. Add the reserved clam juices, heavy cream, wine and salt.
Simmer, uncovered, until mixture is reduced to thin sauce consistency, about 10 minutes.
Add chopped clams and freshly cooked linguine to pan and toss until sauce coats pasta thickly, about 5 minutes. Season with salt and pepper.