Crude ends under $50; heating oil rallies 5%

Crude-oil futures settled below $50 a barrel on Monday amid investor concerns about excess crude supply in U.S. markets, but cold weather and a refinery strike fed a 5% rally in heating-oil prices.

Crude for delivery in April CLJ5, +0.16%  lost $1.36, or 2.7%, to settle at $49.45 a barrel. April Brent crude LCOJ5, +0.46%   lost $1.32, or 2.2%, to end at $58.90 a barrel on London’s ICE Futures exchange.