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01-Jan2019

Crude oil futures end marginally higher on Monday

Crude oil futures ended marginally higher in the final trading day of 2018. Trading was choppy due to low volumes on New Year's Eve. Meanwhile, participants will be watching the Organization of the Petroleum Exporting Countries (OPEC) and its allies, led by Russia, closely as 2019 gets under way. OPEC - essentially led by Saudi Arabia - and its production partners outside the cartel agreed in early December to begin limiting crude output by a collective 1.2 million barrels a day at the start of January.

Benchmark crude oil futures for February gained 8 cents or 0.2 percent to settle $45.41 a barrel on the New York Mercantile Exchange. March Brent crude rose 59 cents or 1.1 percent to settle at $53.80 a barrel on London's Intercontinental Exchange.


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