Oil prices rose Friday on a drop in U.S. drilling, but posted a decline for the week as a stronger dollar and continued oversupply of crude oil weighed on the market. Prices are more than 40% below their June highs, as the global market remains oversupplied. Traders are parsing supply-and-demand data from the U.S. and overseas for clues of when the market will come back into balance, either through lower production or improving consumption. Market watchers remain divided about the near-term direction of oil prices. Some say prices will continue rising as demand keeps rising and U.S. shale-oil production falls following sharp cutbacks in drilling. Others say that the physical market remains oversupplied, with some cargoes of crude oil searching for buyers, and prices are set for another decline. Light, sweet crude for July delivery settled up $1.13, or 1.9%, at $59.13 a barrel on the New York […]