Oil futures fall to cap a bearish week
Crude-oil futures ended lower Friday, capping a week of bearish news for the commodity.
Light, sweet crude futures for delivery in October slipped 31 cents, or 0.3%, to $93.65 a barrel on the New York Mercantile Exchange. New York-traded oil declined 1.8% on the five-day period, its fourth straight weekly loss.
October Brent crude on London’s ICE Futures exchange fell 34 cents, or 0.3%, to $102.29 a barrel. Brent declined 1.2% on the week, its second consecutive weekly loss.
“The crude complex is once again facing headwinds in the form of a stronger dollar,” said Matt Smith, a commodity analyst with Schneider Electric. A strong greenback is usually a negative for commodities, which are priced in dollars.
“The last week has brought a plethora of bearish news for the crude market,” ...
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