The WTI and Brent crude oil futures contracts ended down for another week. The West Texas Intermediate (WTI) and Brent crude oil futures contracts ended another week lower. Although the December WTI gained 26 cents Friday, the U.S. benchmark’s settlement price of $67.59 per barrel (bbl) reflects a 2.2-percent drop from the October 19 close. For the Brent, the decline during the period was a sharper 2.7 percent. The December Brent contract settled at $77.62 a barrel, translating into a 73-cent day-on-day increase. “Bearish news on both the financial and physical fronts worked to push prices lower, with slight rebounding occurring in the latter days” of the week, said Tom Seng, Assistant Professor of Energy Business with the University of Tulsa’s Collins College of Business. “U.S. and global stock markets got hammered while the U.S. dollar index hit an 18-month high, further depressing crude prices.” Switching to the supply […]