Oil ends below $35 as natural gas suffers 7th straight loss

Oil futures settled lower Thursday, as recent data showing an unexpected climb in U.S. crude supplies and strength in the dollar following the Federal Reserve’s decision to hike interest rates combined to pull U.S. prices below $35 a barrel.

January WTI crude CLF6, -0.26% fell 57 cents, or 1.6%, to settle at $34.95 a barrel on the New York Mercantile Exchange. Prices logged their lowest settlement since February 2009. February Brent crude LCOG6, +0.43% on London’s ICE Futures exchange also lost 33 cents, or 0.9%, to $37.06 a barrel.

Gasoline for January delivery RBF6, +1.01%  tacked on 2.9 cents, or 2.3%, to $1.262 a gallon, rebounding from losses a day earlier, while January heating oil HOF6, +0.37%  shed nearly a penny to $1.105 a gallon.

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