Oil posts weekly loss on fuel demand worries


The Brent crude July contract rose 76 cents to US$82.12 a barrel. US West Texas Intermediate (WTI) crude futures settled 85 cents, or 1.1%, higher to US$77.72.

HOUSTON: Oil prices rose about 1% on Friday, but fell for the week on worries that strong US economic data would keep interest rates elevated for a longer period, curbing fuel demand.

The Brent crude July contract rose 76 cents to US$82.12 a barrel. The more-active August contract closed up 73 cents at US$81.84.

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