U.S. crude oil futures settled lower on Friday, extending losses for a second week after Saudi Arabia was reported offering more oil to Asian buyers and raising output in July.
The dollar rose against the euro and a basket of currencies, also pressuring crude futures as it prompted investors to reduce holdings of riskier assets.
Continue Reading Below
On the New York Mercantile Exchange, crude for July delivery settled at $99.29 a barrel, down $2.64, or 2.59 percent, after trading between $98.60 and $102.15.
For the week, the contract fell 93 cents, or 0.93 percent, from the $100.22 close on June 3.
(Reporting by Gene Ramos)
((email@example.com; +1 646 223 6054; Reuters messaging: firstname.lastname@example.org)