Oil prices settled lower Wednesday, easing back from more-than-two-year highs after a pipeline explosion in Libya helped to deliver a jolt to crude futures. Market participants said the downdraft in crude futures on Wednesday reflected investors cashing out of their futures contracts after Tuesday’s run-up. Elsewhere in the energy complex, January heating oil HOF8, -0.20% gained 17 cents, or 0.1%, to $2.0402 a gallon. That marks a 52-week high for heating oil and the highest settlement since Feb. 27, 2015, according to WSJ Market Data Group. Meteorologists were forecasting bitter temperatures in much of the U.S. to close out 2017, which could support further buying in natural gas and heating oil.

Source: Libya Today December 27, 2017 08:21 UTC