Oil posts third straight weekly loss as oversupply concerns mount
Oil posted its third straight week of losses on Friday as traders grew increasingly concerned about oversupply. West Texas Intermediate (CL=F) was trading at $57.54 a barrel, while Brent futures (BZ=F) were trading at $61.29 a barrel, its lowest level since May. WTI and Brent closed the week with a drop of more than 2%….