Oil prices close lower today but climb higher for a third straight week

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March 23, 2019 12:07pm NYSE:USO

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From Myra P. Saefong: Oil futures fell on Friday, with losses fed by worries over a slowdown in global energy demand, but prices climbed for a third straight week on expectations for tighter crude supplies. May West Texas Intermediate oil CLK9, -1.68% fell 94 cents, or 1.6%, to finish at $59.04 a barrel on the New York Mercantile Exchange. The contract still rose about 0.4% for the week, according to FactSet data.

The United States Oil Fund LP (USO) closed at $12.23 on Friday, down $-0.21 (-1.69%). Year-to-date, USO has gained 1.83%, versus a 5.06% rise in the benchmark S&P 500 index during the same period.

USO currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 108 ETFs in the Commodity ETFs category.

This article is brought to you courtesy of MarketWatch.

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