Oil prices traded mixed as Chinese stock market stabilised. The China Securities Regulatory Commission announced on Thursday that it suspended circuit-breaker rules. The circuit-breaker rules intended to stop free-falling share prices and to calm markets.

Concerns over the global oil oversupply weighed on oil prices.

Market participants are also awaiting the release of the number of active U.S. rigs later in the day.

WTI crude oil for February delivery declined to $32.65 a barrel on the New York Mercantile Exchange.

Brent crude oil for February rose to $33.85 a barrel on ICE Futures Europe.

Oil prices traded mixed as Chinese stock market stabilised. The China Securities Regulatory Commission announced on Thursday that it suspended circuit-breaker rules. The circuit-breaker rules intended to stop free-falling share prices and to calm markets.

Concerns over the global oil oversupply weighed on oil prices.

Market participants are also awaiting the release of the number of active U.S. rigs later in the day.

WTI crude oil for February delivery declined to $32.65 a barrel on the New York Mercantile Exchange.

Brent crude oil for February rose to $33.85 a barrel on ICE Futures Europe.