Oil prices fall on profit-taking, still record weekly gain

Brent crude futures settled at US$79.87 per barrel, down US$1.49, or 1.8%, while the US West Texas Intermediate crude futures fell US$1.47, or 1.9%, to settle at US$75.42 a barrel.

BENGALURU: Oil prices fell more than a dollar a barrel on Friday as the dollar strengthened and oil traders booked profits from a strong rally, with crude benchmarks recording their third-straight weekly gain.

Brent crude futures settled at US$79.87 per barrel, down US$1.49, or 1.8%, while the US West Texas Intermediate crude futures fell US$1.47, or 1.9%, to settle at US$75.42 a barrel.