Oil Futures Gain 3.5% For The Week

By Myra P. Saefong Markets MarketWatch Pulse

Oil futures fell on Friday but gained 3.5% for the week, buoyed by expectations that declines in global output and stronger demand for crude will help ease the world's glut of supplies. June WTI crude lost 49 cents, or 1.1%, to settle at $46.21 a barrel on the New York Mercantile Exchange. The weekly gain was WTI oil's fifth in six weeks.

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