Oil prices head for fourth weekly drop as demand fears weigh | Reuters

Oil prices head for fourth weekly drop as demand fears weigh | Reuters

Oil prices slipped on Friday, heading for a fourth weekly decline, as renewed economic concerns in the United States and China revived concern about fuel demand growth in the world's two largest oil consumers.

Brent crude futures fell 43 cents, or 0.57%, to $74.55 a barrel by 0931 GMT. West Texas Intermediate (WTI) U.S. crude futures were down 33 cents, or 0.47%, to $70.54.

Both benchmarks are set to fall by more than 1% for the week, which would be the longest streak of weekly declines since November 2021.