Oil posts first weekly loss in 5 weeks, amid concerns of US output

Oil prices slid roughly 1% on Friday, posting the first weekly loss in five weeks, as a rebound in U.S. production outweighed ongoing declines in crude inventories. Brent crude futures fell 70 cents, or 1%, to $68.61 a barrel, Reuters reported. Last Monday, they hit their highest price since December 2014, …

The post <b>Oil</b> posts first weekly loss in 5 weeks, amid concerns of US output appeared first on crude-oil.news.