New York, August 28 (QNA) - Oil prices fell at settlement on Friday and also declined over the week, weighed down by the US Federal Reserve’s inflation-fighting policy and reports suggesting a possible agreement on navigation through the Strait of Hormuz.
Brent crude futures settled at USD 89.31 a barrel, down 39 cents, or 0.43 percent, from their previous level.
US West Texas Intermediate (WTI) crude futures settled at USD 83.40 a barrel, down 13 cents, or 0.16 percent.
Over the week, Brent crude fell by more than 5 percent, while WTI declined by more than 4 percent. (QNA)