Oil bounces back from sharp losses, but analysts are wary

Crude-oil futures rose Tuesday, a day after being knocked down to a five-year low amid fears the market won’t find a bottom soon.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in January CLF5, -1.28%  rose 77 cents, or 1.2%, to settle at $63.82 a barrel. That snapped a three-session losing streak.

January Brent crude LCOF5, -1.20%  on London’s ICE Futures exchange rose 65 cents, or 1%, to end at $66.84 a barrel. That put an end to a five-session losing streak.