Oil futures prices edged back above $15 a barrel.
Analysts said technical factors and expectations of increased demand for heating oil helped support the market, but they said the overall trend remained down. In Bahrain, Kuwait’s oil minister was quoted as warning that the plunge could continue to as low as $5 a barrel if OPEC and non-OPEC producers do not agree on production controls to strengthen prices. On the New York Mercantile Exchange, the price for March delivery of West Texas Intermediate, the benchmark U.S. crude, closed at $15.12 a barrel, up 35 cents from Tuesday’s $14.77 close.
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