New York's main contract West Texas Intermediate (WTI) for February delivery inched up to US$94.13 while Brent North crude for February moved up to US$107.1. Oil prices rebounded in Asia amid bargain hunting and concerns over Iraqi exports after militants bombed a major pipeline in the country’s north, as per EconomicTimes.com. In Iraq, militants bombed a major oil pipeline in the north Thursday, causing a fire and forcing pumping to be suspended, even as repairs are already under way. However, as per analysts, prices continued to face downward pressure due to easing demand and the return of normal Libyan oil production that would bolster supplies.
06-Jan-14 
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