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US oil prices rise by 1 percent amid expectations of volatile 2019

Updated : January 02, 2019 07:55 AM IST

West Texas Intermediate (WTI) spot crude oil futures were trading at $45.86 per barrel at 0024 GMT, up 45 cents, or 1 percent, from their final close in 2018.
Oil prices ended 2018 with losses for the first time since 2015, after a desultory fourth quarter that saw buyers flee the market over growing worries about a supply glut and mixed signals related to renewed US sanctions on Iran.
The outlook for 2019 is riddled with uncertainty, analysts said, including US-China trade concerns and Brexit, as well as political instability and conflict in the Middle East.
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