OIL PRICES UP TO $30
Light, sweet crude oil prices climbed more than $1/bbl on the New York market Jan. 21, reaching a trading session high of $30.25/bbl before settling at $29.53/bbl. The momentum continued with crude prices rallying above $31/bbl in early trading on Jan. 22.
Cold weather helped support oil prices as did comments from a European banking official regarding the possibility of more economic-stimulus measures, analysts said.
European Central Bank Pres. Mario Draghi suggested in a speech that he is prepared to take economic stimulus steps during March.
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