U.S. Oil Benchmark Posts Lowest Close In More Than 4 Months

By MarketWatchMarketWatch Pulse

Crude-oil futures found no respite from selling pressure Friday, with September futures closing at the lowest level since mid-March amid concerns about a global and domestic supply glut and worries about potentially weak demand from China. September crude fell 79 cents, or 1.8%, to close at $43.87 a barrel, the lowest finish for a most-active contract since March 17. For the week, crude fell 6.9%--the biggest weekly drop since mid-July.

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