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19 Feb 2016
Oil settles below $30.00/bbl but holds onto weekly gains
Crude oil prices fell on Friday but finished the week higher after oscillating amid concerns over the global glut and hopes of a deal to freeze output.
West Texas Intermediate crude settled 3.7% lower on the day at $29.64 a barrel. For the week, WTI accomplished a 0.7% gain, after setting a low of $26.95 on Monday and a high of $31.98 on Thursday.
Oil futures saw little movement after firm Baker Hughes said the number of US oil rigs fell to 413 from 439 the previous week.
West Texas Intermediate crude settled 3.7% lower on the day at $29.64 a barrel. For the week, WTI accomplished a 0.7% gain, after setting a low of $26.95 on Monday and a high of $31.98 on Thursday.
Oil futures saw little movement after firm Baker Hughes said the number of US oil rigs fell to 413 from 439 the previous week.