Oil falls ahead of hurricane but posts weekly gain as U.S.-China trade war eases - Reuters

Oil falls ahead of hurricane but posts weekly gain as U.S.-China trade war eases - Reuters:

Oil futures fell on Friday, with U.S. crude down nearly 3% ahead of a hurricane near the Florida coast that could dampen demand, but prices were still headed for the biggest weekly increase since early July, boosted by an easing of U.S.-China trade rhetoric.

Brent crude LCOc1 futures fell 65 cents, or 1.1%, to settle at $60.43 a barrel. U.S. West Texas Intermediate (WTI) crude CLc1 futures settled down $1.61, or 2.8%, at $55.10 a barrel.

Hurricane Dorian gained strength as it crept closer to Florida’s coast on Friday, raising the risk that parts of the U.S. state will be hit by strong winds, a storm surge and heavy rain for a prolonged period after it makes landfall early next week.