U.S. crude-oil prices declined Thursday, while global benchmark prices ended a few pennies higher, with escalation in the Sino-American trade spat raising the potential to dent energy demand.
West Texas Intermediate crude for June delivery fell 42 cents, or 0.7%, to settle at $61.70 a barrel on the New York Mercantile Exchange, after a 1.2% rise a day earlier. Prices were on track for a weekly loss of 0.4%.
Global benchmark July Brent crude added 2 cents, or 0.03%, to end at $70.39 a barrel on ICE Futures Europe. The contract was headed for a weekly decline of about 0.6%.