Oil Prices Down 5 Straight Days To Lose 9.1% For The Week

By Myra P. Saefong Markets MarketWatch Pulse

Oil prices fell a fifth straight session Friday to tally a weekly loss of 9.1%. Concerns that growing U.S. production will offset output declines by other major producers aimed at rebalancing the market have pulled prices to their lowest settlement since late November. April West Texas Intermediate crude fell 79 cents, or 1.6%, to settle at $48.49 a barrel.

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