Published October 16, 2015 2:52pm EDT | Updated October 16, 2015 3:06pm EDT

Oil Futures Settle Higher, But Lose For The Week

Oil futures settled higher on Friday after Baker Hughes reported a weekly decline in the number of active U.S. rigs drilling for oil. Prices, however, lost about 4.8% for the week on the back of a hefty increase in U.S. crude supplies. November crude settled at $47.26 a barrel on the New York Mercantile Exchange, up 88 cents, or 1.9%, for the session.