Comex Market Update : Epic Research Singapore

Oil futures dropped below $101 a barrel on Friday to mark a fourth weekly loss and their lowest close in two months, as worries continued to fade over near-term threats to Iraqi oil production and Libyan production came back online.

West Texas intermediate crude for August delivery CLQ4 -2.37%   fell $2.10, or 2%, to settle at $100.83 on the New York Mercantile Exchange.

August Brent crude UK:LCOQ4 -1.97%   fell $2.01, or 1.9%, to $106.66 a barrel on the ICE Futures exchange, with the contract losing more than 3.5% for the week.

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