Oil touches new lows but ends turbulent session up 2 cents

New York-traded crude-oil futures limped across the finish line Tuesday closing up 2 cents, enough to snap a four-day losing streak but hardly inviting investors to think that significantly higher crude -oil prices are in the offing.

Trading in oil, as with many markets Tuesday, was characterized by jarring swings. Prices for oil futures trading on the New York Mercantile exchange made a sharp turnaround , briefly touching an all-low of $53.60 and latter hitting a high of $57.15 a barrel.

London’s Brent crude also pared its losses significantly. The choppy trading for oil was matched by similar volatility in gold, a haven play.