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Oil futures settled lower on Friday as weaker-than-expected Chinese trade and U.S. jobs data raised worries about energy demand. Prices, however, pared much of their earlier losses to finish higher for the week as a third-weekly decline in U.S. oil-drilling rigs pointed to a potential fall in domestic production activity. April West Texas Intermediate oil fell 59 cents, or 1%, to settle at $56.07 a barrel on the New York Mercantile Exchange after trading as low as $54.52. It rose 0.5% for the week. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.