HOUSTON—Oil prices edged higher on Dec. 31, the last day of 2018, but were en route for their first annual drop in three years as fears of a slowing global economy and emerging supply glut outweighed impending OPEC-led production cuts.
Brent crude futures were up 21 cents at $53.42 a barrel by afternoon. EST, while U.S. West Texas Intermediate (WTI) crude futures were 10 cents higher at $45.43 a barrel.
