Oil ends down but ending last week on strong gains

February 27, 2016 8:28
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Oil prices fell on Friday due to profit-taking after strong gains over the week pushed US crude to the biggest weekly increase in seven years recording.

She wore prices early gains and turned down following the publication of the latest weekly data from Baker Hughes oil services company, which showed a tenth weekly decline in a row in the number of oil rigs in the United States, the positive data of oil, but traders and investors chose to sell for a profit.
And it ended the World London Brent crude contracts for the nearest maturity low trading session 19 cents, or about 0.54 percent recorded at the settlement of $ 35.10 a barrel after they had jumped earlier in the session to $ 37, its highest level since the fifth of January.
The US crude futures closed lower 29 cents, or 0.9 percent, to $ 32.78 a barrel after they had jumped about $ 1.7 earlier on Friday.
Brent and end the week on a gain of more than 6 percent, while US crude record jump of 11 percent over the week, is the largest weekly increase in seven years.
Oil prices surged in early trade on Friday on news of a pipeline in Iraq and another in Nigeria, causing disruption to withhold more than 800 thousand barrels per day from the global market over the next two Alasusan at least. Analysts said this Altattlat would offset increases in supplies recently from Iran