Oil futures closed sharply lower on Friday to suffer their worst weekly loss since mid-March. "Despite a recent pick-up in [mergers and acquisitions] activity and generally positive overall economic conditions, the unpredictability of an outcome in Ukraine along with high [crude] inventories give motivation for selling in the energy market," said Jonathan Citrin, founder of CitrinGroup. June oil CLM4 -1.23% lost $1.34, or 1.3%, to settle at $100.60 a barrel on the New York Mercantile Exchange. Based on the May contract's close of $104.30 for the holiday-shortened week last week, oil prices lost roughly 3.6% for the week.
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