Oil Closes Higher, But Ends In The Red In January As Output Jitters Weigh

By Mark DeCambre Markets MarketWatch Pulse

Oil futures on Tuesday settled modestly higher, but registered a monthly drop as investors wrestled with the possible effect President Donald Trump may have on prices. West Texas Intermediate crude-oil for March delivery finished up 18 cents, or 0.3%, at $52.81 a barrel, but came off its highs of the session. For the month, oil closed off about 1.8% as concerns about U.S. shale drilling weighed, offsetting upbeat sentiment on the back of the agreement between the Organization of the Petroleum Exporting Countries and other oil producers to curb global production, which began in January.

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