Oil futures rallied Thursday to settle at their highest level in about six weeks as prices extended their gains into a second straight session on the heels of the Organization of the Petroleum Exporting Countries’ deal to ease back output. January West Texas Intermediate crude rose $1.62, or 3.3%, to settle at $51.06 a barrel on the New York Mercantile Exchange. Prices, which gained 9.3% Wednesday, logged their highest settlement since Oct. 19, according to FactSet data.
Continue Reading Below
Copyright © 2016 MarketWatch, Inc.