Oil inched lower on Friday but settled the week with gains.
Both contracts, however, rose more than 1% throughout the week, marking the second straight weekly jump.
International benchmarks for crude oil ended the trading session on Friday, 20 October 2023 lower on hope the Palestinian–Israeli crisis could be deescalated without disrupting oil supplies in the region.
Brent inched 22 cents lower to close at $92.16/barrel.
WTI for November delivery, which expired on Friday, dropped 62 cents to settle at $88.75/barrel.
Both contracts, however, rose more than 1% throughout the week, marking the second straight weekly jump.