Published May 26, 2017 2:56pm EDT | Updated May 26, 2017 3:03pm EDT

Oil Gains For The Day, Pares Loss For The Week

Oil futures settled higher Friday, paring their loss for the week down to about 1.7%. Prices rebounded following a nearly 5% drop a day earlier, which was fueled by traders' disappointment that OPEC didn't take more aggressive measures to lower crude production. July WTI crude rose 90 cents, or 1.8%, to settle $49.80 a barrel on the New York Mercantile Exchange.