According to Market Watch, on Friday, light, sweet crude futures for October delivery were down 24 cents, or 0.3 percent, to $93.73 a barrel on the New York Mercantile Exchange.
Both West Texas Intermediate and Brent crude were pushed down by an oversupply and a gaining dollar, setting benchmarks for weekly losses. Slowing factory growth in China and the Eurozone also pressured oil prices down, reports the Binary Tribune. A stronger greenback usually has a negative effect on commodities.
Investors are looking ahead to U.S. Federal Reserve Chairwoman Janet Yellen's statements on monetary policy at the weekend's meeting.
After fluctuating between $102.72 and $102.24 a barrel, Brent for October delivery on ICE fell 0.18 percent at $102.45 a barrel. The contract was up 0.34 percent on Thursday to $102.63. So far, prices have declined more than 1 percent this week. Brent's premium to its US counterpart grew to $8.83 from Thursday's close of $8.67, according to Market Watch.
Meanwhile, Nymex reformulated gasoline blendstock for September, the benchmark gasoline contract, dropped 1 cent to $2.74 a gallon, as September heating oil climbed 1 cent to $2.85 a gallon, reports the Binary Tribune.
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