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Oil rises 5 percent as cold snap boosts demand - Reuters
Reuters | Oil rises 5 percent as cold snap boosts demand Reuters Crude futures were poised for their first weekly gain this year, but analysts said there had been no shift in the fundamental backdrop of supply that far exceeds demand and swelling inventories of unwanted oil and oil products. "There is no fundamental ... US oil settles up $1.18, or 4.2%, at $29.53 a barrel Oil Prices Notch Biggest Percentage Gains Since October U.S. crude oil prices stabilize but market sentiment remains bearish |
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