Futures Movers: Crude oil slides for 6th day and heads for 7.6% weekly slump [MarketWatch]
GE Aerospace (GE)
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Source: MarketWatch
Crude oil slides for 6th day and heads for 7.6% weekly slump Crude oil prices declined for a sixth straight session on Friday, heading for its biggest weekly loss in almost a year as investors continued to worry about a surge in U.S. production and the selloff in equity markets. West Texas Intermediate crude futures CLH8, -1.18% dropped 68 cents, or 1.1%, to $60.48 a barrel, on track for a 7.6% weekly slide. That would be the biggest loss for WTI in one week since March last year. Brent crude LCOJ8, -0.82% , the global oil benchmark, fell 44 cents, or 0.7% to $64.37 a barrel on London’s ICE Futures exchange. Brent has retreated nearly 6 % this week. Crude has edged down because of “the profit taking from investors who propped up prices to over $70 dollar Brent over the last month,“ said Eugen Weinberg, head of commodities research at Commerzbank. “The timing probably has something to do with over speculation and an overheated market, but fundamentally things are going to head do
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