: U.S. oil futures end higher after a 2-session drop in prices

U.S. oil futures finished higher on Thursday, recouping some of the losses they suffered during a two-session decline. “It’s been a few decades since oil had this bad of a start [to a new year] and energy traders jumped all over the news that the Colonial Pipeline had to halt operations after a leak occurred,” said Edward Moya, senior market analyst at OANDA. “The shutdown should be over on Saturday, but the unexpected disruption helped oil prices stabilize,” he said. Data from the Energy Information Administration released Thursday, meanwhile, revealed a smaller-than-expected weekly rise in U.S. crude supplies and declines in gasoline and distillate stockpiles. The U.S. benchmark WTI crude for February delivery CLG23 rose 83 cents, or 1.1%, to settle at $73.67 a barrel on the New York Mercantile Exchange.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.