Oil prices steadied on Friday, but fell for the week on a stronger U.S. dollar and fears that an economic slowdown would weaken crude demand.
Brent crude futures settled at $96.72 a barrel, gaining 13 cents. U.S. West Texas Intermediate crude ended 27 cents higher at $90.77. Both benchmarks fell about 1.5% on the week.
Oil briefly jumped in volatile trade on comments by Richmond Federal Reserve President Thomas Barkin nL1N2ZV147 who said the drive to raise rates also needs to be balanced with the impact rate hikes are having on the economy. But crude pared gains as investor concerns about upcoming rate hikes settled back in.
