Crude oil prices pared early losses but still settled lower on Thursday after a government report showed the biggest build in U.S. crude inventory in at least 14 years.
Oil fell 5 percent to its lowest in nearly six years on Monday, extending the second-deepest rout on record, after Goldman Sachs warned that prices would fall further and Gulf oil producers showed no sign of cutting output.
World markets are ending their last full week of 2014 on a high, as Wall Street made its biggest two-day advance since late 2011 and European shares headed for their strongest week of the year.
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