U.S. oil futures fall, but gain for the week and month

Oil settled lower on Friday, weighed down by concerns that the U.S.-China trade dispute will hurt demand for the commodity. Prices, however, posted gains for the week as well as the month, buoyed by expectations that U.S. sanctions on Iranian oil will lead to tighter global supplies. October West Texas Intermediate oil CLV8, -0.53% fell 45 cents, or 0.6%, to settle at $69.80 a barrel on the New York Mercantile Exchange. The October contract ended the week 1.6% higher and finished the month of August with a rise of about 3.2%, according to Factset data. Based on the front-month contract settlement of $68.76 on July 31, prices were up 1.5% this month.

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Oil prices end lower, but score solid gains for the month

Oil ends lower Friday, but holds on to a solid gain for the month, a day after U.S. benchmark prices topped $70 for the first time in about six weeks, with U.S. sanctions on Iranian oil expected to lead to tighter global crude supplies.

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