Oil Futures Lose Over 6% For The Week

By Myra P. SaefongMarketsMarketWatch Pulse

Oil futures settled Friday at their lowest level in more than five weeks, pressured by expectations for a rise in crude exports from Nigeria and Libya. Prices tallied a loss of over 6% for the week. October West Texas Intermediate crude fell 88 cents, or 2%, for the session to settle at $43.03 a barrel on the New York Mercantile Exchange. That's the lowest settlement since Aug. 10 and prices fell 6.2% for the week, according to FactSet data.

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