U.S. oil prices edge up for the session, lose close to 5% for the week

Benchmark U.S. oil prices settled a few cents higher on Friday, but dropped by nearly 5% for the week as ongoing worries about the global economy threatened demand for crude. March West Texas Intermediate oil added 8 cents, or 0.2%, to settle at $52.72 a barrel. It lost about 4.6% for the week--the largest weekly percentage loss for a front-month contract since the week ended Dec. 21, according to FactSet data.

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