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Oil halts losing streak, pushes higher ahead of OPEC meeting

Friday, 21 November 2014

Crude-oil futures rose Thursday, snapping a string of losses as investors awaited for the upcoming OPEC meeting — just a week away — for a firmer direction on supplies and thus on prices.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in December CLZ4, +1.39%  rose $1, or 1.3%, to settle at $75.58 a barrel. Futures on Wednesday had closed lower for a third straight session.

January Brent crude LCOF5, +0.34%  on London’s ICE Futures exchange rose $1.23, or 1.6%, to $79.33 a barrel. Brent has also closed lower for three consecutive sessions.

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