Oil prices settle above $50 a barrel

U.S. oil prices settled above $50 a barrel on Thursday after nearly three weeks of trading below that level, which analysts consider a psychological threshold for the oil industry. Traders reacted to media reports that Kuwaiti officials signaled OPEC is considering continuing oil-production beyond this summer, when agreements between OPEC countries and non-OPEC counterparts expires. …
Source: FuelFix