Franklin D Roosevelt was the 32nd president of the United States and the only president to serve more than two terms.
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Franklin D Roosevelt was the 32nd president of the United States and the only president to serve more than two terms.
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This combination of 2005 and undated file photos shows one of Charles A. McCoy Jr.'s guns included in evidence during his 2005 murder trial in Columbus, Ohio, left, and a side crash test on a 2008 PT Cruiser by the Insurance Institute for Highway Safety. Nearly as many Americans die from guns as from car crashes each year. We know plenty about the second group and little about the first. A lack of research on how to prevent gun violence has left policymakers shooting in the dark as they craft gun control measures without evidence of what works. (AP Photo/Tim Revell, Insurance Institute for Highway Safety)
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FILE - This Nov. 16, 2012 file photo shows President Barack Obama, accompanied by House Speaker John Boehner of Ohio, speaking to reporters in the Roosevelt Room of the White House in Washington, as he hosted a meeting of the bipartisan, bicameral leadership of Congress to discuss the deficit and economy. Most Americans think jarring economic problems would erupt if lawmakers fail to increase the government’s borrowing limit. Yet they’re torn over how and even whether to raise it, leaning slightly toward Republican demands that any boost be accompanied by spending cuts, according to an Associated Press-GfK poll. (AP Photo/Carolyn Kaster, File)
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FILE - This Nov. 28, 2012 file photo shows House Budget Committee Chairman Rep. Paul Ryan, R-Wis. walking on Capitol Hill in Washington. House Republicans say they may seek a short-term extension of the government's debt limit in the next few weeks, a move that would avoid an immediate default by the Treasury. Ryan provided no details on the duration of any extension or conditions that might be attached as he appeared at a news conference during a break at a three-day retreat of the rank and file in historic Williamsburg, Va. (AP Photo/J. Scott Applewhite, File)
Oil prices above $95 a barrel in European trade
The price of oil remained above $95 a barrel on Tuesday, boosted by the
Bank of Japan's announcement of more bond purchases next year but tempered by ample supplies and uncertainty about the outcome of negotiations in Washington on the U.S. debt limit.
By early afternoon in Europe, benchmark oil for February delivery was down 3 cents to $95.53 a barrel in electronic trading on the New York Mercantile Exchange.
The February contract, which expires Tuesday, last settled on Jan. 18 as U.S. markets were closed Monday for Martin Luther King, Jr. Day. The more heavily traded March contract was down 11 cents at $95.93.
The Bank of Japan raised its annual inflation target to 2 percent from 1 percent on Tuesday and said it would continue its asset-purchase program — meant to increase liquidity in the financial system — in 2014.
Concerns linger about the U.S. economy, with lawmakers wrangling over spending cuts and the nation's debt ceiling. Though Republican lawmakers are expected to accept a temporary increase in the borrowing limit, a final deal is still not in sight.
Leaders in the U.S. Congress on Monday unveiled legislation to permit the government to continue borrowing money through May 18 in order to stave off a first-ever default on U.S. obligations. It is slated for a vote on Wednesday.
"Despite the firmer tone in equity markets oil prices have struggled to match the positive sentiment ... Concerns about oversupply continue to limit upside progress," Michael Hewson of CMC Markets said in an email commentary.
Brent crude, used to price international varieties of oil, was up 33 cents to $112.22 per barrel on the ICE Futures exchange in London.
In other energy futures trading on the Nymex:
— Natural gas added 5.9 cents to $3.625 per 1,000 cubic feet.
— Wholesale gasoline advanced 1.11 cents to $2.8224 per gallon.
— Heating oil rose 2.95 cents to $3.0714 a gallon.
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Pamela Sampson in Bangkok contributed to this report.
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