Oil Posts Weekly Loss as Emerging-Market Rout Threatens Demand - Bloomberg:
Oil posted the biggest weekly decline since July as a rout in emerging markets raised concerns about weakening energy demand.
Futures in New York fell for a third straight session on Friday after a week-long slide in developing markets around the globe. The dollar advanced after American employers added more jobs than expected, diminishing the appeal of commodities priced in the greenback.
“This whole emerging market situation is sapping a lot of energy from commodity markets,” Bart Melek, head of global commodity strategy at TD Securities in Toronto, said by phone. “Risk appetites have waned somewhat. That’s not particularly good.”
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