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Crude Oil Plunges 4.6% This Week

Crude oil futures tumbled Friday, logging the worst weeky performance in more than a month despite industry data showing a surprise drop in the U.S. rig count.

WTI light sweet crude oil fell $1.50, or 3%, to $49.29 a barrel, for a weekly loss of 4.6%.

Baker Hughes said the U.S. rig count fell last week. Analysts say the rig count will likely fall further in anticipation of another hurricane approaching the Gulf of Mexico.

by RTT Staff Writer

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