US West Texas Intermediate futures settled at US$70.35 per barrel, down by 2.7%, or US$1.98. Global benchmark Brent crude futures fell by 2.3%, or US$1.76, to US$73.87 per barrel.
NEW YORK: Oil prices settled more than 2% lower on Friday as traders grew less fearful of prolonged supply disruptions from a hurricane in the US Gulf of Mexico, while China's latest economic-stimulus packages failed to impress some oil traders.
US West Texas Intermediate futures led the decline and settled at US$70.35 per barrel, down by 2.7%, or US$1.98. Global benchmark Brent crude futures fell by 2.3%, or US$1.76, to US$73.87 per barrel.
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