Oil futures ended below $36 a barrel on Friday, holding ground at a nearly seven-year low to finish the week with a loss of roughly 11%—their largest weekly loss of the year.Brent crude also marked its lowest settlement since December 2008 as the International Energy Agency warned that the global crude-supply glut will continue to pressure prices next year.
Meanwhile, prices for natural gas finished below $2 per million British thermal units for the first time in more than three years.
January West Texas Intermediate crude CLF6, -3.81% settled at $35.62 a barrel, down $1.14, or 3.1%, on the New York Mercantile. For the week, it lost 10.9%. That was the largest weekly loss since the week ended Dec. 12, 2014.
WTI prices, which continue stand at their lowest levels since February 2009, also logged their sixth straight session loss, which was the longest streak of daily declines since March.
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