U.S. oil prices finished higher for the first time in seven sessions, scoring a rebound from Monday’s lows under $35 a barrel.The rebound for crude-oil prices comes despite concerns that a climate deal in Paris may hurt long-term oil demand.
Natural-gas prices, meanwhile, plunged to their lowest settlement since 2001 as warmer weather and hefty supplies sent prices tumbling.
Crude oil for delivery in January CLF6, +0.06% tacked on 69 cents, or 1.9%, at $36.31 a barrel on the New York Mercantile Exchange, after tapping a low of $34.53 a barrel. Prices had posted declines in each of the past six trading sessions to tally a loss of roughly 13% since the close of $41.08 a barrel on Dec. 3.
January Brent crude LCOF6, +0.03% on London’s ICE Futures exchange, however, settled at $37.92 a barrel, down by a penny to hold at its lowest level since December 2008.
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