Oil Bounces Off 6-year Low To End Modestly Higher

By William L. WattsMarketWatch Pulse

Crude-oil futures bounced off a six-year low to end with modest gains Friday after the U.S. benchmark earlier fell to its lowest level since March 2009. Nymex West Texas Intermediate crude for September delivery rose 27 cents, or 0.6%, to settle at $42.50, after earlier trading as low as $41.35. Crude saw a weekly decline of more than 3%, pressured by concerns about demand in the wake of China's yuan devaluation and persistent worries about a worldwide glut of crude oil.

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