Oil down for week as Trump touts energy policy

Brent crude futures settled up 21 cents, or 0.27%, to US$78.50 a barrel. US West Texas Intermediate crude (WTI) settled up 4 cents, or 0.05%, to US$74.66.

HOUSTON: Oil prices settled slightly higher on Friday but posted a weekly decline, ending four straight weeks of gains, after US President Donald Trump announced sweeping plans to boost domestic production while demanding that Opec move to lower crude prices.

Brent crude futures settled up 21 cents, or 0.27%, to US$78.50 a barrel. US West Texas Intermediate crude (WTI) settled up 4 cents, or 0.05%, to US$74.66.