Oil prices set for first annual decline since 2015
Brent declined nearly 20% in 2018 following two years of growth, and WTI is down 24%
Singapore — Oil prices climbed on the last trading day of the year on Monday, taking a cue from firmer stock markets, but were on track for the first yearly decline in three years amid concerns of a persistent supply glut. Hints of progress on a possible US-China trade deal helped bolster sentiment, which has been battered by concerns over a weaker global economic outlook. Brent crude futures — the international benchmark for oil prices — rose $0.42, or 0.8%, to $53.63/barrel by 2.50 GMT. Brent declined nearly 20% in 2018 following two years of growth.
US West Texas Intermediate (WTI) crude futures were at $45.65/barrel, up $0.32, or 0.7%, from their last close. WTI is down about 24% this year. JSE-investors can trade WTI via an exchange-traded note offered by Standard Bank, which has lost 3% over the past year...
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