Oil prices fall on stronger dollar, demand fears | Reuters

Oil prices fall on stronger dollar, demand fears | Reuters

Oil prices settled more than 1% lower on Friday, falling for the third consecutive week, as the market balanced supply fears against renewed economic concerns in the United States and China.

Brent crude futures settled down 81 cents, or 1.1%, to $74.17 while West Texas Intermediate (WTI) U.S. crude futures fell 83 cents, or 1.2%, to $70.04.

Both benchmarks settled about 1.5% lower week on week.