Oil falls amid trade war concerns

Oil prices fell on Friday and are expected to continue their decline for a second consecutive week amid concerns about weak demand due to the US-China trade war.

Brent crude futures fell 31 cents (0.5%) to $63.02 a barrel, while US West Texas Intermediate (WTI) crude futures fell 36 cents, or 0.6%, to $59.71.

Both crudes settled down more than $2 on Thursday, according to Reuters.

Brent is expected to fall 4% this week, following an 11% decline the previous week, while US crude is expected to fall 3.8%, following an 11% decline the previous week.