Oil Settles With a Weekly Loss Of More Than 5%

By MarketWatch Pulse

Oil futures on Friday suffered a loss of more than 5% for the week as the glut of crude supplies and concerns about possible weakening demand from China pressured prices. September crude fell 31 cents, or 0.6%, to settle at $48.14 a barrel on the New York Mercantile Exchange, losing 5.4% for the week.

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