Crude Oil Settles At Lowest In Five Years

New York-traded oil on Friday settled at its lowest since September 2009, bringing monthly losses to 18%. On the New York Mercantile Exchange, light, sweet crude futures for delivery in January was off $7.54, or 10%, to finish at $66.15 a barrel, the lowest settlement for a front-month oil contract since Sept. 25, 2009. November losses were the steepest one-month percentage decline since December 2008. On the week, futures declined nearly 14%.