Oil Futures Finish With a Loss Of More Than 8% For The Week

By Myra P. Saefong Markets MarketWatch Pulse

Oil futures settled lower on Friday, pressured by the ongoing glut of crude supplies and data pointing to a lack of significant declines in global output. March West Texas Intermediate crude prices fell 83 cents, or 2.6%, for the session to settle at $30.89 a barrel on the New York Mercantile Exchange. For the week, it lost 8.1%, its first weekly loss in three weeks.

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