Brent crude settled down US$1.48, or 3.62%, at $39.45 a barrel. U.S. West Texas Intermediate (WTI) dropped $1.65, or 4.25% to $37.14 a barrel. Still, both contracts gained on the week with Brent up 5.8%, and U.S. crude rising 4.3%.oil File pic shows US strategic reserves at Freeport, Texas. - Reuters)
NEW YORK: Oil settled below US$40 a barrel on Friday as rising global coronavirus cases stoked fears about lackluster demand and as drawn-out vote counting in the U.S. presidential election kept markets on edge.
France reported record cases, intensifying concerns that additional lockdowns in Europe could weigh on demand.
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