Oil prices gain after choppy week

Oil prices bounced up and down over the week but ended around $1.00 higher than the previous high for each contractOil prices rose Friday at the end of a volatile week marked by jitters over Chinese demand and US supplies. US benchmark West Texas Intermediate for delivery in November added 79 cents to $45.70 a barrel, helped partly by an improved view of the US economy after second quarter GDP growth was revised higher. Weaker growth in energy-hungry China this year is expected to cause a slowdown in the rest of Asia, the Asian Development Bank said Tuesday, as it became the latest major body to revise down its forecasts for the world’s number two economy.

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