The Chicago Entrepreneur

: U.S. oil futures settle lower, down 11% for the week

U.S. oil futures settled lower on Friday to post a weekly loss of 11%. The “short-term crude demand outlook has deteriorated significantly as no one has a strong handle on how bad a recession will hit the U.S. economy,” said Edward Moya, senior market analyst at OANDA. U.S. benchmark WTI crude for January delivery CLF23 fell 44 cents, or 0.6%, to settle at $71.02 a barrel on the New York Mercantile Exchange, with prices ending at their lowest since Dec. 20, 2021, according to Dow Jones Market Data.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Previous post Covid and flu hospitalizations increase as holidays approach, while RSV retreats in some states
Next post The Wall Street Journal: Justice Department urges judge to hold Trump’s legal team in contempt over Mar-a-Lago case