Cold Forecasts, Potential OPEC Cuts Boost Oil

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Crude oil prices rose Wednesday due to increased demand for heating oil and the possibility of further OPEC production cuts.


Light sweet crude for February delivery gained 23 cents to trade at $45.91 a barrel by early afternoon in Europe in electronic trading on the New York Mercantile Exchange. Prices for heating oil were up more than half a cent at $1.3000 per gallon.


Brent crude rose 31 cents to $43.43 in trading on the International Petroleum Exchange.


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