Oil futures fall nearly $2 to log loss on week - MarketWatch

SAN FRANCISCO (MarketWatch) — Crude futures fell by nearly $2 a barrel Friday, pressured by concerns over Greece’s debt crisis, Chinese manufacturing and weak U.S. gasoline demand.

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CL2G -2.27%  lost $1.93, or 1.9%, to settle at $98.46 a barrel on the New York Mercantile Exchange. That was the lowest settlement price for a most-active contract since Dec. 20. Prices lost 0.2% lower for the week. Greece is likely to enter into a technical default following a deal with private-sector investors, But this may result in its credit rating being upgraded. Dow Jones's Costas Paris explains why.

Oil futures fall nearly $2 to log loss on week - MarketWatch