Oil rout continues in volatile start to 2015

 Oil futures ended the first trading day of 2015 on the same note they finished 2014, sliding to another round of lows on a surging U.S. dollar and a global glut of crude.

On the New York Mercantile Exchange, crude futures for delivery in February CLG5, -0.86%  fell 58 cents, or 1.1%, to close at $52.69 a barrel, the lowest finish since April 2009. February Brent crude LCOG5, -1.43%  on London’s ICE Futures exchange remained 13 cents lower at $56.29 a barrel, a loss of 0.2%.

Nymex WTI crude lost 45.87% through 2014, and Brent crude lost 48.26%, the largest one-year net and percentage decline since 2008 for both benchmarks.