Oil futures end lower for the session, gain for the week

Oil futures ended with a loss on Friday as tensions between the U.S. and China raised demand concerns for the commodity, but prices found support for the week from global production cuts and expectations for further reductions. Baker Hughes

on Friday reported a 10th straight weekly fall in the number of active U.S. oil rigs. July West Texas Intermediate oil

fell 67 cents, or 2%, to settle at $33.25 a barrel on the New York Mercantile Exchange. Based on the front-month contracts, prices rose nearly 13% for the week, according to Dow Jones Market Data.

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