Oil fell Friday, building on a loss for the week as energy operations in the Gulf of Mexico prepared for Tropical Storm Nate, which is expected to become a hurricane this weekend. Many energy companies have evacuated offshore oil and gas platforms, prompting a slowdown of oil production, but traders are also weighing the likelihood that OPEC-led production cuts will be extended through next year. November West Texas Intermediate crude fell $1.50, or 3%, to settle at $49.29 a barrel on the New York Mercantile Exchange. It lost about 4.6% for the week.
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