Oil Futures Down For The Day, But Up Four Weeks In a Row

By Myra P. SaefongMarketsMarketWatch Pulse

Oil futures settled lower on Friday, but finished higher for a fourth straight week. Traders continued to assess the latest U.S. government data, which showed a bigger-than-expected weekly rise in crude supplies, but also revealed declines in gasoline and distillate stockpiles and a fall in domestic crude production. November West Texas Intermediate crude fell 9 cents, or 0.2%, for the session to settle at $50.35 a barrel on the New York Mercantile Exchange. It gained about 1.1% for the week.

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