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Oil Market Update

U.S. light, sweet crude futures for delivery in January CLF5, -0.48% pushed modestly higher in early action, buoyed in part by port disruptions in Libya before sinking again. West Texas Intermediate crude oil, as the U.S. benchmark is known, fell $1.90, or 3.3%, to close at $55.91, the lowest finish since May 2009.
January Brent crude LCOF5, -0.59% on London’s ICE futures exchange was dragged lower, falling 79 cents, or 1.2%, to $61.06 a barrel.
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