U.S. oil benchmark ends at lowest since April, down nearly 7% for the week
U.S. oil futures fell Friday, settling at their lowest since April for a second straight session. U.S. plans to issue waivers on Iranian oil sanctions fed concerns for a potential over supply in the market against a backdrop of rising global production. December West Texas Intermediate oil lost 55 cents, or 0.9%, to settle at $63.14 a barrel on the New York Mercantile Exchange. It declined by roughly 6.6% for the week, marking its fourth weekly loss in a row.
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