Oil Has Biggest Weekly Decline in Three Months

Bloomberg reports that Oil fell, posting its biggest weekly loss in three months.

The market news is quoted as saying:

Futures dropped 0.4 percent after China told lenders for the fifth time this year to set aside more funds to drain cash from the financial system and limit asset bubbles. Economic growth will spur a 9.5 percent jump in 2010 Chinese oil use, according to a Nov. 12 International Energy Agency report.

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