Oil Futures Gain For The Day, But Lose Nearly 7% For The Week

By Markets MarketWatch Pulse

Oil futures rose on Friday, rebounding after a four-session decline as a slowdown in U.S. job growth lowered the likelihood of a Federal Reserve interest-rate increase at the central bank meeting later this month. That could lead to weakness in the dollar and buoy dollar-denominated prices for oil. Russian President Vladimir Putin also called on oil producers to reach a deal to cap output. October WTI crude rose $1.28, or 3%, to settle at $44.44 a barrel on the New York Mercantile Exchange. It still lost 6.7% for the week, according to FactSet data.

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