Crude oil prices settled moved in opposite direction in futures market on Thursday following reports OPEC could extend its oil supply-reduction pact with non-members and might even apply deeper cuts if global crude inventories failed to drop to a targeted level.

Light sweet crude oil (WTI) futures gained 0.25 dollar or 0.47 percent to close at USD 53.36 a barrel at the New York-based commodity exchange NYMEX.

Brent crude oil futures fell 0.10 dollar or 0.18 percent to close at USD 55.65 a barrel at NYMEX. WTI-Brent spread was stable on Feb-2017.

Natural gas futures remained flat at 2.854 a gallon at the NYMEX. RBOB gasoline futures remained flat at 1.525 a gallon at the NYMEX.

In refined products, RBOB heating oil futures remained flat at 1.629 a gallon at the NYMEX.