SINGAPORE, Jan 2 (Reuters): Oil prices fell on Friday (Dec 31) but were set to post their biggest annual gains since at least 2016, spurred by the global economic recovery from the Covid-19 pandemic slump and producer restraint, even as infections reached record highs worldwide.
Brent crude futures settled down US$1.75, or 2.2%, at US$77.78 a barrel. US West Texas Intermediate (WTI) crude futures dropped US$1.78, or 2.31%, to US$75.21 a barrel.
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