Oil prices settled higher in thin late-year trade as investors bet on a drop in temperatures across the U.S. and Europe over the coming weeks to boost diesel demand.
Brent crude futures rose 22 cents, or 0.3%, to settle at $74.39 a barrel. The more active March contract settled at $73.99 a barrel, up 20 cents.
U.S. West Texas Intermediate crude gained 39 cents, or 0.6%, to settle at $70.99 a barrel. U.S. ultra-low sulfur diesel futures settled 2.5% higher at $2.30 a gallon, the highest since Nov. 5.
Oil prices were headed for a small annual loss after months locked in a narrow trading range, with the market facing the prospect of a turbulent year ahead.
#crudeoil #crudeoilprices #brentcrudeoilprices #cnbctv18 #businessnews #businessnewstoday #businessnewsinenglish #sharemarkettoday
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