Oil Prices Limit Weekly Gains

Oil prices declined on Friday, amid concerns about the second wave of the COVID-19 pandemic and its impact on the global demand for energy.

However, losses were marginal due to support from the commitment expressed by the OPEC+ alliance to output curbs.

Brent crude futures for December delivery plunged by 23 cents, or 0.5%, to finish at $42.93 per barrel, but added 0.2% for the week.

The West Texas Intermediate crude futures for November delivery decreased by 8 cents, or 0.2%, to close at $40.88 per barrel, limiting its weekly rise to 0.7%.