Published July 24, 2015 2:43pm EDT | Updated August 5, 2015 4:20pm EDT

Oil Settles With a Weekly Loss Of More Than 5%

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.