Brent crude futures settled down $1.44 at $62.43 a barrel, and was down 1.5% on the week. Still, the contract posted its biggest monthly gain since April with a rise of about 6%. West Texas Intermediate (WTI) futures settled down $2.94 at $55.17, falling of 4.1% on the week, after three consecutive increases. On a monthly basis, WTI is poised for a jump of about 2.3%, its highest since June
NEW YORK: Oil prices fell on Friday, with U.S. crude dropping more than 4%, on fresh trade tensions and record high U.S. crude production, but they still ended the month higher as OPEC watchers expect an extension next week to a pact to throttle oil output beyond March.
Brent crude futures settled down $1.44 at $62.43 a barrel, and was down 1.5% on the week. Still, the contract posted its biggest monthly gain since April with a rise of about 6%.
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