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Oil prices recorded a decline during trading on Friday, amid growing concerns about an excess of global supply, alongside weak demand in the United States.
Consequently, Brent crude futures fell by 38 cents, or 0.6 percent, reaching $63.14 per barrel.
West Texas Intermediate crude futures also decreased by 0.8 percent, equivalent to 47 cents, settling at $59.13 per barrel.
This drop comes as investors focus on evaluating U.S. economic indicators and their potential impact on global energy demand, particularly as challenges related to inflation and interest rates persist.
