Oil Futures Fall Back Under $50, But Gain Over 3% For The Week

Oil futures settled back under $50 a barrel on Friday, but still gained roughly 3.3% for the week with the market wary of potential oil supply and demand disruptions linked to Hurricane Matthew and uncertainty surrounding informal output discussions among major oil producers in the coming days. November West Texas Intermediate crude fell 63 cents, or 1.3%, to settle at $49.81 a barrel on the New York Mercantile Exchange. Prices, which settled at a four-month high of $50.44 Thursday, tallied a third straight week of gains.