Oil prices steady, on track for biggest yearly rise since 2016
Oil prices held steady on the final day of the year on Tuesday, heading for their biggest annual rise since 2016, supported by a thaw in the prolonged US-China trade dispute and supply cuts.
Brent crude futures for March delivery, the new front month contract, were at $66.66 a barrel, down 1 cent, by 0258 GMT. Brent for February delivery closed on Monday at $68.44 .
US West Texas Intermediate (WTI) crude for February was down 3 cents at $61.65.
Brent has gained about 24 per cent in 2019 and WTI has risen roughly 36 per cent. Both benchmarks are set for their biggest yearly gain in three years, backed by a breakthrough in US-China trade talks and output cuts pledged by the Organization of Petroleum Exporting Countries (OPEC) and its allies.
