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FEB 08, 2013 - MarketWatch

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Oil settles lower, loses over 2% on week

SAN FRANCISCO (MarketWatch) -- Oil futures settled lower Friday to lose 2.1% for the week, pressured by dollar strength and a continued supply glut at a key delivery hub in Cushing, Okla. Brent crude, however, rallied to a nine-month high on upbeat China economic data and Mideast tensions. March crude settled at $95.72 a barrel on the New York Mercantile Exchange, down 11 cents, or 0.1%. That was the lowest front-month contract settlement since Jan. 23. Ahead of settlement in London, March Brent was up $1.63, or 1.4%, at $118.87 a barrel.Market Pulse Stories are Rapid-fire, short news ... Read More

Tags: Oil settles lower, loses over 2% on week,  Futures Latest News