NEW YORK: Oil prices settled lower on Friday and fell around 2% this week as production increases and renewed COVID-19 lockdowns in some countries offset optimism about a recovery in fuel demand.
Brent crude futures for June settled down US22 cents, or 0.4%, to $62.95. U.S. West Texas Intermediate (WTI) crude for May ended 28 cents, or 0.5%, lower at $59.32.
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