Oil snaps four-session losing streak, up 1.5%

U.S. crude oil rose Wednesday, snapping a four-session losing streak after a dip below $47 a barrel earlier in the day.

Light, sweet crude for February delivery CLG5, +0.97% rose 72 cents, or 1.5%, to settle at $48.65 a barrel on the New York Mercantile Exchange.

The contract had traded as low as $46.83 earlier, extending a 4.2% drop on Tuesday that left crude oil at its lowest since April 2009.