Crude-oil futures finished the month deeper in bear-market territory Friday, registering its worst monthly slide, on a percentage basis, since 2008 after a report indicated a rise in rig counts.Already under pressure on the day from a, West Texas Intermediate crude for September delivery CLU5, -3.61% shed $1.40, or 2.9%, to settle at $47.12 a barrel on the New York Mercantile Exchange. WTI finished with a weekly decline of about 2.5% and a monthly drop of 21%, according to FactSet. That places it squarely in bear-market territory.
September Brent crude oil LCOU5, -2.81% —the international benchmark—on the ICE Futures exchange lost $1.10, or 2.1%, down to settle at 52.21 a barrel. For the week, Brent is down about 5% and has given up more than 18% in July, according to FactSet data.
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