OGJ NEWSLETTER

Milder weather in the U.S. for the first half of January led crude and product prices to relax from December's madness. North Sea prices were declining last week from peaks set around Jan. 1. North Sea Brent blend for February delivery slipped to $19.80/bbl Jan. 17 from $20.30/bbl a week earlier as European product prices fell as weather related U.S. demand waned. U.K. traders were uncertain about the market's direction but said there appeared more likelihood of further declines than a

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