Oil posts 4th straight weekly gain on US sanctions


Brent crude futures dipped 50 cents, or 0.6%, at US$80.79 per barrel. US West Texas Intermediate crude futures lost 80 cents, or 1%, at US$77.88 a barrel.

HOUSTON: Oil prices settled lower on Friday but notched their fourth straight weekly gain, as the latest US sanctions on Russian energy trade added to worries about oil supply disruptions.

Brent crude futures dipped 50 cents, or 0.6%, at US$80.79 per barrel, but gained 1.3% this week. US West Texas Intermediate crude futures lost 80 cents, or 1%, at US$77.88 a barrel, having climbed 1.7% for the week.

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