Oil prices settled lower on Friday after traders took profits following a continuous rally of the market.
The West Texas Intermediate for June delivery fell 0.21 U.S. dollar to settle at 71.28 dollars a barrel on the New York Mercantile Exchange, while Brent crude for July delivery decreased 0.79 dollar to close at 78.51 dollars a barrel on the London ICE Futures Exchange.
Oil service giant Baker Hughes reported on Friday the U.S. oil rig count held steady at 844 this week after rising for six weeks in a row.
Uncertainties remain in the oil market due to strong global demand expectations, geopolitical tensions and stabilizing U.S. production growth in the second quarter, said experts.
Editor:Amber
