Oil Market Update : Epic Research Singapore

Oil futures finished higher on Friday, with prices recovering some losses in the wake of a four-session decline, but losing almost 5% for the week as a glut of supplies showed no real signs of abating.

November West Texas Intermediate crude CLX5, +1.90%  settled at $47.26 a barrel, up 88 cents, or 1.9%, on the New York Mercantile Exchange. It settled at a nearly two-week low on Thursday and saw a loss of roughly 4.8% on the week.

December Brent crude LCOZ5, +1.47%  on London’s ICE Futures exchange rose 73 cents, or 1.5%, to $50.46 a barrel, with prices down more than 4% for the week.

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