Oil at 4-year low as Saudi comments create confusion

Saudi Arabia’s oil minister left oil markets confused about what direction, if any, the kingdom and OPEC will take to stop oil prices’ free fall, and oil futures traded at fresh multiyear lows on Thursday.

 sweet crude futures for delivery in December CLZ4, -0.44%  fell $2.97, or 3.9%, to $74.21 a barrel. Futures had settled Wednesday at a three-year low.

December Brent crude LCOZ4, -3.17%  on London’s ICE Futures exchange fell $2.46, or 3.1%, to finish at $77.92 a barrel. That was Brent’s lowest settlement since Sept. 9, 2010.