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09-Mar2019

Crude oil futures end lower on Friday

Crude oil futures end lower on Friday as a downbeat employment report from the US and trade data from China reinforced worries about global economic growth and energy demand.  However, oil prices pared much of their earlier losses to score a gain for the week as a third-consecutive weekly decline in US oil-drilling rigs pointed to a potential fall in domestic production activity. Active US rigs drilling for oil fell by nine to 834 this week.

Benchmark crude oil futures for April dropped 59 cents or 1 percent to settle at $56.07 a barrel on the New York Mercantile Exchange. May Brent crude lost 56 cents or 0.8 percent to settle at $65.74 a barrel on London's Intercontinental Exchange.


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