MELBOURNE: Oil prices fell for a second consecutive day on Friday as the U.S. dollar soared on the prospect of interest rate hikes in the United States, but were nevertheless on track to finish the week flat – only slightly off multi-year highs.
Brent crude futures were down 52 cents, or 0.7%, at $72.56 a barrel as of 0227 GMT, extending a 1.8% decline on Thursday.
U.S. West Texas Intermediate (WTI) crude futures were down 48 cents, or 0.7%, at $70.56 a barrel, after retreating 1.5% on Thursday.
