Oil prices end higher for first time in 5 sessions

Oil prices staged a rebound Tuesday, following a four-session decline, with prices for the August West Texas Intermediate crude contract settling above the key $50-a-barrel level.

August crude CLQ5, +0.88%  settled at $50.36 a barrel, up 21 cents, or 0.4%, on the New York Mercantile Exchange. It lost 1.5% in the previous session, falling to $50.15 a barrel, the lowest settlement price since early April.

The August Nymex contract expired at Tuesday’s settlement. September crude CLU5, -1.44% the new front-month contract, rose 42 cents, or 0.8%, to settle at $50.86.

Nymex crude has now fallen for five consecutive trading sessions and has lost more than 14% so far this month.

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