Oil markets steady as Japan emerges from recession

Japan's economy rebounded from recession in the final quarter of last year, supporting oil prices, even though the data was weaker than expected. Analysts said that healthy demand for refined products was also buoying crude markets. "Product markets have been supported by strong domestic demand, looming refinery turnarounds, and the potential impacts of the United Steelworkers union (USW) refinery strikes," it added. Despite the price rises of the past two weeks, analysts say sign