Oil Settles Lower, Loses 1.4% On Week

By Myra P. SaefongMarketsMarketWatch Pulse

Oil futures finished the week with a loss as weak monthly U.S. jobs data and an increase in the number of active U.S. drilling rigs helped send prices down by more than 1% on Friday. July WTI crude settled at $48.62 a barrel on the New York Mercantile Exchange, down 55 cents, or 1.1%. Prices had scored gains over the previous three weeks.

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