West TX Oil at $94 Undermined by Supply Glut Jitters

U.S. oil futures fell on Friday and was on track for a fifth straight week of declines, while Brent remained under pressure on a strong dollar and plentiful supplies.

U.S. crude for October ended down 31 cents to finish the session at $93.65 a barrel, the longest streak of weekly drops since November 2013. Brent crude dipped 30 cents to $102 a barrel.

Traders and analysts said higher inventory at Cushing, Oklahoma, pushed the markets lower Friday after stocks in the delivery point for the U.S. oil contract fell to six-year lows earlier this month.

CNBC

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