Oil posts weekly 7% drop on China demand woes


Brent crude futures fell US$1.39, or 1.87%, to US$73.06 a barrel. US West Texas Intermediate crude settled at US$69.22 a barrel, down $1.45 or 2.05%.

HOUSTON: Oil futures fell on Friday, declining more than 7% on the week after data showed China's economic growth slowed and investors digested a mixed Middle East outlook.

Brent crude futures fell US$1.39, or 1.87%, to US$73.06 a barrel. US West Texas Intermediate crude settled at US$69.22 a barrel, down $1.45 or 2.05%.

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