The U.S., the world’s largest oil consumer, will continue to import crude from Colombia and Venezuela, according to the International Energy Agency.
The natural gas market in New York is contracting as prices head for the first three-year drop on record, helping to expand trading in heating oil.
West Texas Intermediate crude climbed for the first time in six days as industrial production increased in China, the second-biggest oil-consuming country.
The U.S. will “ratchet up the pressure” on Iran to address international concerns about that country’s nuclear program, the Treasury Department’s top counterterrorism official said.
"Some of the places where demand had been growing particularly fast in recent years had been producer countries because record-high prices were a huge stimulus."
- Antoine Halff on Dec 12, 2014