Oil Futures Suffer Biggest One-day Loss Since Mid-July

By Myra P. SaefongMarketsMarketWatch Pulse

Oil futures settled lower on Friday, suffering from the biggest dollar and percentage loss since mid-July as traders weighed the latest talk from major oil producers ahead of their meeting next week that's expected to focus on production levels. November West Texas Intermediate crude dropped $1.84, or 4%, to settle at $44.48 a barrel on the New York Mercantile Exchange. The losses pared oil's weekly gain down to about 2%.

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