Oil prices fall as dollar climbs, but set for weekly gain on supply concerns

Oil prices fell in early trade on Friday on a stronger dollar, but were on track for a weekly gain on concerns about supply tightening with Europe’s pending cut-off of imports from Russia.

Brent crude futures came off 42 cents, or 0.4%, to $96.54 a barrel at 0043 GMT, after rising 1.3% in the previous session. U.S. West Texas Intermediate (WTI) crude futures were down 56 cents, or 0.6%, at $88.52 a barrel, paring about half the gains from the previous session.