Oil Futures Suffer a Weekly Loss Of 9.5%

Oil futuresfell Friday to tally a weekly decline of 9.5%--their largest such loss since mid-January--with many traders not expecting the Organization of the Petroleum Exporting Countries to successfully reach a pact later this month to curb output. December WTI crude fell 59 cents, or 1.3%, to settle at $44.07 a barrel on the New York Mercantile Exchange. That marked the lowest settlement since Sept. 20, according to FactSet data.