February 6, 2014 6:40 PM

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Oil steady above $106, premium to US crude narrows<br/>

Brent crude oil futures held steady above 106 dollars a barrel, today, as worries over global economic growth dented the demand outlook, with its premium to US crude continuing to narrow as more cold weather hit the United States. Brent crude was trading 2 cents higher, at 106.27 dollars per barrel. US crude rose 14 cents, to 97.64 dollars a barrel. US crude was supported as severe snow and ice storms in north-eastern US boosted demand for heating fuels. The oil market has mostly escaped the recent selloff in risky assets, which was sparked by emerging markets turmoil and a mixed picture on global economic growth.

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