Oil eases on possible Angola output increase

Brent futures fell 32 cents, or 0.4%, to settle at US$79.07 a barrel, while US West Texas Intermediate (WTI) crude fell 33 cents, or 0.5%, to settle at US$73.56.

NEW YORK: Oil prices eased on Friday ahead of the long Christmas holiday weekend on expectations Angola could increase output after leaving Opec, but rose for the week on positive US economic news and worries Houthi ship attacks would boost supply costs.

Brent futures fell 32 cents, or 0.4%, to settle at US$79.07 a barrel, while US West Texas Intermediate (WTI) crude fell 33 cents, or 0.5%, to settle at US$73.56.