Oil Futures Reverse Course To Finish Lower

By Myra P. SaefongMarketsMarketWatch Pulse

Oil futures turned lower late in Thursday’s session to finish with a loss. A rise in the U.S. dollar index to multiyear highs and doubts that members of the Organization of the Petroleum Exporting Countries will adhere to individual production quotas, even if they are set at a meeting later this month, combined to pull prices lower. Prices had spent most of the session trading higher after comments from Saudi Arabia's oil minister fed expectations that the group will finalize its output plan. December West Texas Intermediate crude fell 15 cents, or 0.3%, to settle at $45.42 a barrel on the New York Mercantile Exchange.

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