Oil prices fall as expectations of higher supplies hammer market sentiment

Oil prices declined for a third consecutive day on Friday, heading toward a lower weekly close as investors anticipated increased supplies from Libya and the wider OPEC+ group.

Brent crude futures fell by 57 cents, or 0.8%, to $71.03 per barrel, while U.S. West Texas Intermediate crude dropped 58 cents, or 0.9%, to $67.09 a barrel.