Mubasher: Oil future levelled down at Friday’s close, losing 2.1% for the week.  

September Nymex WTI decreased by $1.96, or 3.7%, to close at $52.5 per barrel.

The International Energy Agency (IEA) warned on Friday that more indications of an economic downturn and escalating US-China trade conflict threw a wrench into global oil demand growth, slowing down to its lowest since the 2008 financial crisis.