Oil rises 6 percent but set for biggest January fall in 25 years

LONDON (Reuters) – Oil rose by more than 6 percent on Friday, as a cold snap boosted demand for heating oil across the United States and Europe, but was still mired near its lowest since 2003 and set for its largest drop in January in at least 25 years.

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

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