Oil posts weekly loss as markets weigh Chinese demand

Brent crude futures settled down 88 cents, or 1.1%, at US$82.08 a barrel. US West Texas Intermediate crude futures (WTI) fell 92 cents, or 1.2%, at US$78.01.

HOUSTON: Oil prices closed 1% lower on Friday and fell even more for the week as markets remained wary of soft Chinese demand even as producer group Opec+ extended supply cuts.

Brent crude futures settled down 88 cents, or 1.1%, at US$82.08 a barrel. US West Texas Intermediate crude futures (WTI) fell 92 cents, or 1.2%, at US$78.01.