Oil Prices Decline at Settlement : Steepest Weekly Drop Since 2022

Oil futures prices fell during Friday's trading session, recording their largest weekly decline since 2022. 

Brent crude futures dropped 72 cents, or 0.8 percent, at settlement to stand at $95.20 per barrel. This concluded a week where Brent saw a total decline of 12.7 percent, marking its most significant weekly fall since August 2022.

U.S. West Texas Intermediate (WTI) crude futures also decreased by $1.30, or 1.3 percent, to settle at $96.57 per barrel. WTI recorded a total weekly decline of 13.4 percent, the steepest since the COVID-19 pandemic lockdowns in April 2020.