Brent crude futures fell $66.53 a barrel by 10h14 CAT, falling 2.2% on the week.

US West Texas Intermediate crude rose $62.81 a barrel, having declined 3% for the week.

"On a weekly basis, prices are down as concerns over oversupply from OPEC+ persist, while the demand outlook remains uncertain amid ongoing trade tensions. A stronger US Dollar has also added pressure to crude prices," LSEG Senior Analyst Anh Pham said.

Oil erased earlier gains after a Spokesperson from China's Foreign Ministry said China and the US were not having any consultations or negotiations on tariffs. That contradicted earlier comments by US President Donald Trump, who said on Thursday that trade talks between the US and China were underway.

China is considering exempting some US imports from its 125% tariffs and is asking businesses to provide lists of goods that could be eligible in the biggest sign yet of Beijing's concerns about the economic fallout from the trade war.

--Reuters--