Oil futures finished higher Friday after a six-session streak of declines, but marked a seventh weekly loss in a row. Oil’s overall loss highlights how “unimpressed traders were with the OPEC+ production cut deal, said Craig Erlam, senior market analyst at OANDA. “It also suggests they aren’t particularly optimistic about the global economy next year.” January West Texas Intermediate crude
CLF24,
fell $1.89, or 2.7%, to settle at $71.23 a barrel on the New York Mercantile Exchange. Prices based on the front-month contract lost 3.8% for the week, according to Dow Jones Market Data.
