Oil Market Update

New York-traded oil futures ended lower Monday after shifting between gains and losses in the wake of an election win by Greek anti austerity party Syriza.

Light, sweet crude for March delivery CLH5, +0.24%  fell 44 cents, or 1%, to close at $45.15 a barrel on the New York Mercantile Exchange.

Brent crude also declined, with the March contract LCOH5, +0.35% declining 63 cents, or 1.3%, to $48.16 a barrel on London’s ICE Futures Exchange.