BUSINESS, Commerce

Oil Prices Make Biggest Annual Gain Since 2009

Oil prices fell at the end of the week but were still trending towards their biggest annual gain since 2009 after OPEC and other major producers agreed to cut output to reduce a global supply overhang that has depressed prices for two years.

U.S. benchmark West Texas Intermediate (WTI) crude futures were down 25 cents at $53.52 a barrel Friday morning.

Brent has risen about 50 percent this year and WTI has climbed almost 43 percent, the largest annual gains since 2009.

Davy Desmond, Readers Bureau, Fellow

Edited by Jesus Chan

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