MW: Crude erases losses as U.S. stocks turn higher
By Moming Zhou
NEW YORK (MarketWatch) -- Crude-oil futures turned higher Friday, rising as U.S. stocks largely erased their earlier losses, boosting sentiment in energy trading. Stocks and crude futures moved in the same direction in 13 out of the past 17 sessions since the beginning of the month, according to data compiled by MarketWatch. Crude for November delivery rose 63 cents, or 1%, to $66.52 a barrel on the New York Mercantile Exchange, after dropping as low as $65.05 earlier, the lowest level for a front-month contract since July 30. Despite the gain, oil prices, as gauged by front-month contracts, are set to end the week down about 8%, the biggest weekly loss since the five sessions ended on July 10.
