07-10-2016 21:45 via uk.news.yahoo.com

Oil ends down 1 percent, snapping week-long OPEC-fueled rally

By Barani Krishnan NEW YORK (Reuters) - Oil fell about 1 percent on Friday as players took profits on a rally over the past week that propelled prices nearly 15 percent to four-month highs on hopes of OPEC crude output cuts. A closely watched report by oil services provider Baker Hughes showed U.S. drillers adding rigs in 14 of the past 15 weeks. OPEC is "back in business," determining oil prices, and only a "brave person" would bet against the cartel, an avowed oil bull, Andy Hall, said in a le
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