F.P. Report
NEW YORK: Oil prices decreased, but managed to notch a gain for the week. The West Texas Intermediate (WTI) for May delivery dropped 70 cents, or 1 percent, to settle at 69.26 US dollars a barrel on the New York Mercantile Exchange. Brent crude for May delivery lost 92 cents, or 1.21 percent, to close at 74.99 dollars a barrel on the London ICE Futures Exchange.
The decline came as traders continued to focus on the banking industry.
Shares of Deutsche Bank were under considerable pressure after a spike in the cost of insuring against its default.
It reignited concerns over the health of the US and European banking sectors. (APP)
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