September 21, 2024 6:50 PM.
Oil prices settled lower on Friday but recorded a second straight week of gains, garnering support from a U.S. interest rate cut and a dip in U.S. supply.
Brent futures settled down 0.5 percent at 74 dollars and 49 cents per barrel. U.S. WTI crude futures settled down 0.4 percent to 71 dollars and 92 cents.
Signs of a slowing economy in major commodity consumers China gave prices a ceiling. But for the week, both benchmarks settled up more than 4%.
Prices have recovered after Brent fell below $69 for the first time in nearly three years on Sept. 10.