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Oil closed at a 15-month low as a wave of technical selling and options covering accelerated a three-day slide.

Global benchmark Brent rose for a second consecutive week, getting a late boost from UAE officials denying OPEC exit plans.

Oil posted a second straight monthly gain as physical markets show signs of strength and traders look ahead to OPEC+ potentially extending its supply cuts.

Oil fell as the latest economic report revealed the slowdown effects of monetary tightening and pushed demand concerns to the market's forefront.

Oil posted the largest weekly gain since April after OPEC+ clarified its plan to return some output to the market and fuel markets showed signs of strength.

Oil prices surged above $85 as a monthslong effort by OPEC+ to reduce supplies gripped the physical market and China showed a new resolve to bolster its economy, a key engine of global crude consumption.

Tightening global oil supplies and expectations that the Federal Reserve's tightening is nearing an end propelled crude to the longest run of weekly gains in more than a year.

Oil shed nearly 25% to post its first quarterly loss in more than two years as escalating fears over a global economic slowdown and a stronger dollar overshadowed concerns of tightness in oil supplies.

Oil posted a third straight weekly gain after a surprise supply cut by OPEC+ and a drop in US inventories tightened the market outlook.

Oil posted a fourth weekly gain amid lower summer trading volumes and tentative signs that global markets are tightening.