Oil falls in biggest weekly decline in months on demand worries

NEW YORK: Oil prices fell about 1% lower on Friday, posting to their steepest weekly losses in months, on worries that travel restrictions to curb the spread of the Delta variant of COVID-19 will derail the global recovery in energy demand.

Crude futures also came under pressure as the dollar strengthened after monthly US job growth came in higher than expected. A stronger dollar makes greenback-denominated oil more expensive for buyers in other currencies.