Crude futures settle lower

Oil prices declined on Wednesday.

The West Texas Intermediate for February delivery dropped 3 cents, or 0.05 percent, to settle at 58.35 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for February delivery lost 14 cents, or 0.22 percent, to settle at 62.24 U.S. dollars a barrel on the London ICE Futures Exchange.

The second day of the Thailand-Cambodia General Border Committee secretariat meeting began at the Thai side of the border in Chanthaburi Province on Thursday morning, with about 30 delegates from each side engaged in the peace talks.

Only four people from each side participated in the initial talks at the Ban Phak Kat permanent checkpoint on Wednesday, which set the agenda for today's full-delegation meeting.

Earlier on the day, the Cambodian Ministry of National Defense said in a statement that the General Border Committee secretariat began its second day of meeting at 9:05.

In the meeting, the two sides continued in-depth discussions to ensure the cessation of hostilities and find solutions to restore stability between the two countries, as well as to facilitate a swift return to normalcy, according to the statement.

The meeting also prepared for the upcoming 3rd Special General Border Committee meeting, which will be held on December 27, 2025, the ministry added.

The Thailand-Cambodia border clashes reignited on Dec 7, with both sides accusing the other of initiating the attack. More than 100 civilians have since been killed and hundreds of thousands evacuated.