Oil Gains For The Session, But Drops 14% For The Month

By Myra P. SaefongMarketsMarketWatch Pulse

Oil futures settled higher on Friday, finding support from a weaker U.S. dollar, but prices finished the month with a loss of roughly 14% as a glut of crude supplies and gasoline inventories weighed on the market. September WTI crude climbed by 46 cents, or 1.1%, to settle at $41.60 a barrel on the New York Mercantile Exchange. Prices have now posted losses in three out of the seven months of the year so far.

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