Crude-oil prices rallied all day and finished above $55 a barrel Friday as freezing temperatures across the East Coast raised the prospects of increased heating-fuel consumption.
Here is Friday’s roundup of oil and energy news:
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BELARUS THREATENS NEW DUTIES: President Alexander Lukashenko threatened to slap fresh duties on Russian oil sent through Belarus to Europe unless Moscow sells it oil at a cheaper price — raising the specter of a repeat of this month’s supply cutoff. Mr. Lukashenko, who was been branded “Europe’s last dictator” for his iron-fisted rule, has made a series of defiant statements in recent weeks, accusing Russia of trying crush or absorb the former Soviet republic. He has also pledged to seek less-strained ties with Europe.