International oil prices closed lower on Friday (17th).

(Reuters)

[Financial Channel/Comprehensive Report] International oil prices closed lower on Friday (17th). Affected by market concerns about the banking industry, this week's weekly line hit the biggest drop in several months.

West Texas Intermediate crude for April delivery fell $1.61, or 2.4%, to settle at $66.47 a barrel, down 13% for the week, the biggest weekly drop since April last year.

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Brent crude for May delivery fell $1.73, or 2.3%, to settle at $72.97 a barrel, down nearly 12% for the week, its biggest weekly drop since December.

John Kilduff, a venture partner at the energy hedge fund "Again Capital", said that although the fundamentals are not as bad as the current price, investors are worried that oil is not as safe as gold or cash.

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