Oil advanced for the fourth time in five days on the New York Mercantile Exchange, reversing an earlier decline of 0.3 percent.
West Texas Intermediate crude for January delivery advanced 29 cents, or 0.3 percent, to $87.02 a barrel at 9:20 a.m. on the New York Mercantile Exchange. Prices are down 12 percent this year.
Brent for February settlement fell 43 cents, or 0.4 percent, to $107.75 a barrel on the London-based ICE Futures Europe exchange. Brent’s premium to February WTI was $20.28 a barrel, down from $22.42 on Dec. 14.