Oil Prices Close Lower but Score Monthly Gains

Oil prices declined on Friday, amid a rise by the U.S. Dollar (USD) and expectations for deciding on an increase in output during the upcoming OPEC+ summit.

Brent crude futures for April delivery declined by 75 cents, or 1.1%, to close at $66.13 per barrel, while May futures plunged by $1.69, or 2.6%, to $64.42 per barrel.

For the month, the global benchmark futures rose by about 18%.

Meanwhile, the West Texas Intermediate (WTI) crude futures for April delivery finished lower by $2.03, or 3.2%, at $61.50 per barrel, rising by about 18% on a monthly basis.