Oil Prices Rise Over 1%, But Set For First Yearly Drop Since 2015

Oil prices climbed on the final trading day of the year on Monday, mirroring gains in stock markets, but were on track for the first yearly decline in three years amid lingering concerns of a persistent supply glut. Brent crude futures rose 74 cents, or 1.4%, to $53.95 a barrel. Brent declined nearly 20% in 2018 following two years of growth. US WTI crude futures were at $45.84 a barrel, up 51 cents, or 1.1%, from their last close. WTI is down about 24% this year.
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