Oil settles flat this week, with weekly decline on recession worries

SINGAPORE, Jan 6 (Reuters): Oil prices were little changed on Friday (night as the market balanced a weaker US dollar and mixed US jobs reports, but both crude benchmarks ended the first week of the year lower due to global recession concerns.

Brent futures fell 12 cents, or 0.2%, to settle at US$78.57 a barrel, while US West Texas Intermediate (WTI) crude rose 10 cents, or 0.1%, to settle at US$73.77.