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Oil Posts Weekly Loss as Emerging-Market Rout Threatens Demand

  • ‘Risk appetites have waned,’ TD Securities analyst Melek says
  • Strengthening U.S. currency also weighing on crude market
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Commodities are feeling the pain as the emerging-market currency crisis weighs on global markets.Source: Bloomberg
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Oil posted the biggest weekly decline since July as a rout in emerging markets raised concerns about weakening energy demand.

Futures in New York fell for a third straight session on Friday after a week-long slide in developing markets around the globe. The dollar advanced after American employers added more jobs than expected, diminishing the appeal of commodities priced in the greenback.