Oil prices fall after Europe agrees to release diesel reserves

Oil prices settled lower on Friday after European leaders agreed to a request by US President Donald Trump to release diesel from their reserves in an effort to lower prices and reduce reliance on US fuel imports.

Brent crude futures fell 6 cents, or 0.06 percent, to settle at US$102.25 a barrel, while US West Texas Intermediate (WTI) dropped $1.76, or 1.90 percent, to $91.11 a barrel.

For the week, Brent gained 0.11 percent, while WTI declined 1.6 percent.