Benchmark Brent settled down 41 cents, or 0.6%, to US$69.22 a barrel. U.S. West Texas Intermediate crude also ended down 41 cents to $65.61 a barrel. Brent and U.S. crude ended the week roughly flat after prices touched a 13-month high on Monday, following seven straight weeks of gains.
NEW YORK: Oil settled near US$70 a barrel on Friday, supported by production cuts by major oil producers and optimism about a demand recovery in the second half of the year.
Benchmark Brent settled down 41 cents, or 0.6%, to US$69.22 a barrel. U.S. West Texas Intermediate crude also ended down 41 cents to $65.61 a barrel.
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