(MENAFN- ProactiveInvestors)
West Texas Intermediate crude-oil futures last week suffered from their first weekly loss in a month as U.S. supplies continue to mount but natural-gas prices rallied as much of the U.S. experienced below-normal temperatures.
West Texas Intermediate for March delivery gave up 1.6% to settle at US$50.34 barrel on the New York Mercantile Exchange. That was the lowest settlement price since February 11.
For the week the contract saw a 4.6% decline its first loss since the week ended January 23.
The March contract expired at the Nymex close today and the new front-month contract — April crude — was down 2% to settle at US$50.84 a barrel.
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