Oil prices rebound 1% to end week steady

Brent crude futures settled 70 cents, or 1%, higher at US$70.58 a barrel. US West Texas Intermediate crude (WTI) closed at US$67.18 a barrel, up 63 cents, or 1%.

NEW YORK: Oil prices rebounded by 1% on Friday to end the week nearly unchanged as investors weighed the diminishing prospects of a quick end to the Ukraine war that could bring back more Russian energy supplies to Western markets.

Brent crude futures settled 70 cents, or 1%, higher at US$70.58 a barrel, after falling 1.5% in the previous session. US West Texas Intermediate crude (WTI) closed at US$67.18 a barrel, up 63 cents, or 1%, after losing 1.7% on Thursday.