NEW YORK (MarketWatch) -- Crude-oil futures fell Friday for an eighth straight session, the longest losing streak in more than six years, after better-than-expected U.S. retail sales and consumer sentiment data boosted the dollar and weighed on commodities that are priced in the U.S. currency.
The decline erased oil's gains from earlier in the session, when crude prices climbed after the International Energy Agency raised its forecast for next year's global oil demand and China said its industrial production accelerated in November to the fastest rate this year. Crude oil for January delivery ended down 67 cents, or 0.9%, at $69.87 a barrel on the New York Mercantile Exchange. The eight-session losing streak is the longest since October 2003.
Full Story: Oil extends losing streak to eight - MarketWatch
The decline erased oil's gains from earlier in the session, when crude prices climbed after the International Energy Agency raised its forecast for next year's global oil demand and China said its industrial production accelerated in November to the fastest rate this year. Crude oil for January delivery ended down 67 cents, or 0.9%, at $69.87 a barrel on the New York Mercantile Exchange. The eight-session losing streak is the longest since October 2003.
Full Story: Oil extends losing streak to eight - MarketWatch
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