Oil futures tallied a sixth straight session reject on Thursday, with U.S. prices marking back-to-back settlements below $70 a barrel. Prices remain in a broadly bearish trend over the past two months “as U.S. production growth and demand headwinds have overshadowed geopolitical risk and ongoing efforts by OPEC+ to preserve prices,” said Robbie Fraser, manager, Global Research & Analytics, at Schneider Electric. January West Texas Intermediate crude
CLF24,
fell 4 cents, or nearly 0.1%, to settle at $69.34 a barrel on the New York Mercantile Exchange, after losing 4.1% on Wednesday.
