MARKET WATCH: Crude oil benchmarks declined for week ended Feb. 8

Crude oil benchmark prices rose modestly Feb. 8 with light, sweet crude oil for March delivery settling above $52.70/bbl and Brent settling above $62/bbl although both crude benchmarks declined for the week overall ended Feb. 8. US futures tumbled 4.6% for the week, which Dow Jones Market Data said was the largest loss since the week ended Dec. 21, 2018. Brent oil prices dropped 1% for the week ended Feb. 8.