Oil Scores Biggest Weekly Gain Since 2009

By Myra P. SaefongMarketWatch Pulse

Oil futures settled higher Friday, with U.S. prices up by nearly 12% for the week as analysts mulled the likelihood of declines in production on the back of overall weakness in oil prices. October crude rose $2.66, or 6.3%, to settle at $45.22 a barrel on the New York Mercantile Exchange. Prices climbed 11.8% for the week, the largest weekly increase since about March 2009, according to FactSet data.

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