Growing tension between Saudi Arabia and Iran fueled volatile trading on Monday, with oil prices ultimately finishing lower as traders worried that an unstable political situation in the Middle East would complicate the outlook for oil in 2016.February West Texas Intermediate crude CLG6, +0.54% shed 28 cents, or 0.8%, to settle at $36.76 a barrel on the New York Mercantile Exchange. It traded as high as $38.39 and as low as $36.33. February Brent crude LCOG6, +0.64% settled down 6 cents, or 0.2%, to $37.22 a barrel on London’s ICE Futures exchange, reversing course after an earlier high of $38.99.
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