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Oil prices settled slightly lower on Friday. the year`s last trading day. but attained their biggest annual gain since 2009. after OPEC and partners agreed to cut output to reduce a supply overhang that has depressed prices for two years. US benchmark West Texas Intermediate crude futures were down 5 cents. or 0.1%. at $53.72 a barrel. while Brent fell 3 cents. or 0.1%. to $56.82. Reuters reported. A two-rig rise in the oil rig count in the United States. the ninth weekly increase in a row. as reported by oilfield services provider Baker Hughes Inc. added to bearish sentiments. Some profit-taking … very light trading – a lot of people have already done what they needed to do for the year. said Elaine Levin. president of Powerhouse. an energy-specialized commodities broker in Washington. Brent rose 52% this year and WTI climbed around 45%. the largest annual gains since 2009. when the benchmarks rose 78% and 71% respectively.
