Oil Futures Gain More Than 9% For The Week

By Markets MarketWatch Pulse

Oil futures settled narrowly higher Friday to tally a weekly gain of more than 9% with traders holding on to hopes that the Organization of the Petroleum Exporting Countries will take action to stabilize the market at a meeting late next month. September WTI crude rose 30 cents, or 0.6%, to settle at $48.52 a barrel on the New York Mercantile Exchange. For the week, the contract, which expires at Monday's settlement, gained 9.1%.

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