Oil futures edge up to settle above $46 a barrel

Oil prices edged higher to settle above $46 a barrel on Thursday, extending the more-than-6% rally they saw a day earlier, as bets on a slowdown in production grow.

Natural-gas prices, meanwhile, ended lower as supplies moved closer to a record level.

December West Texas Intermediate crude CLZ5, -0.48%  tacked on 12 cents by the close, or 0.3%, to settle at a more-than-one-week high of $46.06 a barrel on the New York Mercantile Exchange. Prices jumped 6.3% on Wednesday, as a rise in crude stockpiles wasn’t quite as large as some expected and supplies of gasoline fell.

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