NEW YORK CITY: Oil prices pared losses on Thursday (Friday in Manila) but ended 2015 sharply lower as the “black gold” was battered by prolonged global oversupply and a slowdown in energy-hungry China’s economy.
North Sea Brent, the European benchmark for oil, dropped almost 35 percent over the year, while the US benchmark West Texas Intermediate (WTI) fell 30 percent.
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