WTI Oil Ends Streak of Losses With a Small Rise

US crude futures manage a small, 0.2% increase to finish at $79.05 a barrel, which ends a streak of three straight daily declines but still leaves the market more than 2% lower for the week. “Spot prices are weakening and are poised to move lower,” says Spartan Capital’s Peter Cardillo in an email. “The ongoing worries over China and mixed macro news in the U.S. not to mention worsening economic indicators out of Europe, in particular Germany, is weighing on prices. Bottom Line: we expect our first target level of $75 to soon be reached.” Brent crude also sees a small gain as it stays in the $83 area.