Oil drops 1 pct as economic outlook weakens, US supply surges

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Reuters
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ID: 
1552077614836163300
Fri, 2019-03-08 20:14

NEW YORK: Oil prices fell about 1 percent on Friday after disappointing US job growth revived concerns about a slowing global economy and weaker demand for oil.
With surging US oil supply also unsettling markets, Brent crude futures fell 56 cents, 0.8 percent, to settle at $65.74 a barrel. The international benchmark gained 1 percent for the week.
US West Texas Intermediate (WTI) crude futures fell 59 cents, or 1 percent, to settle at $56.07 a barrel. WTI rose 0.5 percent for the week.

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