New York-traded oil futures ended higher on Thursday, shaking off earlier weakness, while Brent prices hit fresh multi-year lows but held above $50 a barrel.Light, sweet crude futures for delivery in February CLG5, +0.78% rose 14 cents, or 0.3%, to settle at $48.79 a barrel on the New York Mercantile Exchange.
February Brent crude LCOH5, +0.50% on London’s ICE Futures exchange declined 19 cents, or 0.4%, to settle at $50.96 a barrel. Brent has fallen in eight of the past 10 sessions, and Thursday’s finish was the lowest for the benchmark’s front-month contract since April,30 2009.
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