Oil prices settled under $37 a barrel on Thursday for the first time since 2009, after data from the Organization of the Petroleum Countries’ report showed that the group increased its crude production in November to its highest monthly level in three years.Natural-gas futures, meanwhile, ended with a loss after a U.S. government report showed that supplies fell more than expected last week, but total stocks remained well above the year-ago level.
On the New York Mercantile Exchange, January West Texas Intermediate crude CLF6, -0.84% shed 40 cents, or 1.1%, to settle at $36.76 a barrel. That was the lowest settlement for a most-active contract since February 2009 and prices have now extended their losing streak to a fifth straight session.
January Brent crude LCOF6, -0.70% on London’s ICE Futures exchange slipped 38 cents, or 1%, to $39.73 a barrel.
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