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 A City of Hutchison, Kan., front end loader clears snow from intersections 
on S. Main St. Tuesday, Feb. 4, 2014. The winter storm dumped 
more than 10 inches of snow on the city from late Monday 
to late Tuesday. (AP Photo/The Hutchinson News, Travis Morisse)The Associated 
PressLONDON  The price of oil rose Wednesday on prospects U.S. demand 
will hold up amid cold weather, offsetting worries about a slowdown in 
emerging economies.By late afternoon in Europe, the benchmark U.S. crude 
contract for March delivery was up 42 cents to $97.78 a barrel 
in electronic trading on the New York Mercantile Exchange. It gained 76 
cents to close at $97.19 on Monday in New York.Brent crude, a 
benchmark for international oil used by many U.S. refineries, was up 20 
cents at $104.93 on the ICE exchange in London.Northeastern U.S. is bracing 
for a second storm of the week, forcing classes to be canceled 
and government and business offices to close. Anywhere from a few inches 
to a foot or more of snow is expected to fall on 
East Coast states, and some places are expected to get freezing rain 
and sleet.The cold is expected to increase demand for heating fuels, driving 
up the cost of crude oil as well.Expectations for higher demand offset 
lingering concerns about an economic slowdown in China and some emerging 
markets that have caused turmoil in stock markets.Also helping were U.S. 
economic indicators released Wednesday that were mostly upbeat. A private 
payro
 SAN JUAN, Puerto Rico  Puerto Rico's governor says he is renegotiating 
the payment of short-term debt and has ordered all government agencies to 
reduce their current budgets by 2 percent after the island's credit rating 
was downgraded to junk status.Alejandro Garcia Padilla made the announcement 
Wednesday on radio station WKAQ.Spokeswoman Paola Figueroa tells The Associated 
Press that the governor will make additional announcements later Wednesday 
in response to the downgrade.Garcia said Tuesday that he also would be 
submitting legislation to further reduce the deficit and would present a 
deficit-free budget for the upcoming fiscal year.Puerto Rico is in its eighth 
year of recession while struggling with $70 billion in public debt and 
a 15.4 percent unemployment rate, higher than any U.S. state.
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