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Oil settles lower, loses nearly 4% for the week


Saturday, 28 September 2019 03:31 WIB

WTIMinyak WTI


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Oil futures finished lower Friday, as news reports tied to Iran sanctions, a cease-fire between Saudi Arabia and Yemen, and the U.S. considering limits on investor portfolio flows into China pressured prices, contributing to a loss of nearly 4% for the week.

West Texas Intermediate crude for November delivery lost 50 cents, or 0.9%, to settle at $55.91 a barrel on the New York Mercantile Exchange. For the week, prices for the front-month contract finished 3.8% lower, according to Dow Jones Market Data. November Brent crude, the global benchmark, fell 83 cents, or 1.3%, to $61.91 a barrel on ICE Futures Europe, with the contract down 3.7% for the week.

In other energy trading, October gasoline fell 0.6% to $1.6514 a gallon, losing 1.6% for the week, while October heating oil lost 0.7% to $1.9416 a gallon, for a weekly loss of about 2.3%.

November natural-gas futures declined 1.6% to $2.404 per million British thermal units, with the front-month contract posting weekly loss of 5.9%.

Source: Marketwatch


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