On the last trading day of 2020, Brent rose US17 cents to settle at $51.80 a barrel. U.S. West Texas Intermediate rose 12 cents to settle at $48.52 a barrel. Brent fell 21.5% for the year, with WTI falling 20.5%.
NEW YORK: Global crude prices edged higher on Thursday but lost more than a fifth of their value in 2020, as lockdowns to combat the novel coronavirus depressed economic activity and sent oil markets reeling.
Still, Brent and U.S. crude benchmarks have more than doubled from April's nadir as producers cut output to match weaker demand. News of coronavirus vaccine distributions also bolstered prices in the fourth quarter, helping futures recover to the highest in about 10 months.
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