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USOIL chart - Trading View
US oil was extending sideways grind above 200H MA support, break below will drag the price lower.
U.S. West Texas Intermediate (WTI) slipped 74 cents from session highs at $75.55 and was trading at $74.81 at around 13:20 GMT.
While Brent crude fell 48 cents, to $78.31 at the time of writing, heading for a weekly decline after three weeks of gains.
Possibility that OPEC+ producers might step up a planned increase in output to ease supply concerns weighing on oil prices.
Crude also came under pressure on Friday from a strong U.S. dollar and rise in U.S. crude inventories reported this week.
Technical analysis is bullish as long as the price holds above 200H MA. Breach below could see weakness till 72.28 levels.
