Crude oil futures ended lower on Friday, paring their gain for the week as traders assessed growing supplies, the demand outlook, weather-related U.S. production challenges, and continued tensions in the Middle East. The downturn by the price of crude oil reflected profit taking after the front-month contract spiked on Thursday.
Benchmark crude oil futures for February delivery fell 67 cents or 0.9 percent to settle at $73.41 a barrel on the New York Mercantile Exchange. Brent crude for March delivery dropped 54 cents or 0.7 percent to settle at $78.56 a barrel on London's Intercontinental Exchange.