Oil prices settled a bit lower on Thursday, pulling back from a 2.4% rally a day earlier amid worries about growing U.S. output. Prices briefly traded higher in the last hour before the settlement, buoyed comments from Khalid Al-Falih, Saudi Arabia’s energy minister, who said OPEC cuts may be extended if necessary, according to Bloomberg News. The market also saw volatility tied to the day’s expiration of April crude oil options. April West Texas Intermediate crude
fell 11 cents, or 0.2%, to settle at $48.75 a barrel.