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Oil settles 24-cent down on Friday

Oil settles 24-cent down on Friday

Mubasher: Oil futures declined at Friday’s settlement, losing 3% for the week.

October Nymex WTI levelled down by $0.24, or 0.4%, to close at $54.85 per barrel.

The Energy Information Administration (EIA) stated that the US natural gas storage posted a build-up of 78 billion cubic feet (Bcf) in the week ended 6 September, hitting a total of 3,019 Bcf.