Oil price falls as China economic concerns outweigh rising refinery runs

Benchmark Brent crude oil futures fell 49 cents to settle at $59.42 a barrel. U.S. West Texas Intermediate (WTI) crude futures lost 15 cents to settle at $53.78 a barrel. For the week Brent fell 1.8%, while WTI lost 1.7%

NEW YORK: Oil prices edged lower on Friday, as concerns about China's economy outweighed bullish signals from its refining sector, but losses were limited on hopes for progress toward a U.S.-China trade agreement.

Benchmark Brent crude oil futures fell 49 cents to settle at $59.42 a barrel. U.S. West Texas Intermediate (WTI) crude futures lost 15 cents to settle at $53.78 a barrel.