Oil prices settle higher for the first time in 6 sessions (marketwatch.com)

Fundamentals are largely bearish due to oversupply concerns, especially given the huge build in stockpiles reported in the refined products for the week ended Jan. 3, Sevens Report said. Tensions between the U.S. and Iran have eased, though the “threat of more geopolitical unrest still exists and is likely to keep a floor under the market, preventing a decisive breakdown in the near term.”

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