West Texas Intermediate for January settled at US$36.22 in trading in New York despite a cut in production announced by the Organization of Petroleum Exporting Countries (OPEC).
Brent crude, the benchmark used for Newfoundland and Labrador crude, finished the day at US$43.60. Longer term futures - out to 2015 - showed varying declines, even though the current trading price ranges considerably higher than that for front month crude. [Long term charts: WTI and Brent]
On the New York exchange, January crude finishes tomorrow. February was more active, settling at less than US$44.
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