U.S. oil books worst day in about 3 years after tanking nearly 8%
Crude-oil prices plunged Friday, with the contract notching a seventh-straight weekly fall, as investors increasingly focused on oversupply in the market. U.S. benchmark West Texas Intermediate crude for January delivery finished down $4.21, or 7.7%, lower at $50.42 a barrel. The decline marks the worst single session drop for the commodity since a 7.73% decline on July 6 of 2015, according to FactSet data. For the week, it is the seventh straight weekly loss for U.S. oil dating to mid October. The crude complex closed an hour early at 1:30 Eastern Time in post-Thanksgiving trade.
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