Oil prices moved above $46 a barrel on Tuesday as a cold spell loomed in the Northeast, supply problems afflicted global producers, and the prospect of new OPEC production cuts worried investors.

U.S. light crude rose 82 cents to $46.15 a barrel after on the New York Mercantile Exchange, while Brent crude for February delivery was 48 cents higher at $43.40 a barrel at the International Petroleum Exchange.

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