Oil prices decline; Brent falls to $103.53 pb

Oil prices fell on Friday, with Brent crude futures dropping US$0.72, or 0.7 percent, to US$103.53 per barrel (pb) by 0220 GMT. US West Texas Intermediate (WTI) crude futures fell US$0.52, or 0.6 percent, to US$90.97 pb.

Despite the decline, Brent was on track for a weekly gain after settling 4 percent higher on Thursday.