9/17, 3:41 PM (Source: TeleTrader)
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Oil slides 1%, slows down weekly gains

Prices of oil declined 1% on Friday but remained on course to record gains on a weekly level, as the oversupply concerns faded after two hurricanes hit the United States.

The traders will monitor the US rig count data by Baker Hughes, set for release later during the day.

West Texas Intermediate (WTI) for settlements in October lost 1.1% at 9:30 am ET to sell for $71.81 per barrel. Brent for deliveries in November dipped 0.73% a minute later, going for $75.1 per barrel.

Breaking the News / BU