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Oil Futures Down More than 6% for the Week

M. Ali 12 September, 2020 12:07 am Commodities, Market Update

Oil prices declined on Friday, logging their second consecutive weekly decline amid a mostly negative outlook for global demand.

Brent crude futures for November delivery closed lower by 23 cents, or 0.6%, at $39.83 per barrel losing 6.6% for the week.

Meanwhile, the West Texas Intermediate (WTI) futures for October delivery increased marginally by 3 cents, or 0.08%, and finished at $37.33 per barrel, registering a 6.1% weekly decrease.

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