Doha: Oil prices retreated on Friday but remained on course for weekly gains, as markets weighed expectations of slowing demand in the United States, the world's largest oil consumer, with the end of the summer driving season, alongside continued uncertainty over Russian supply. Brent crude futures for October delivery, which expire on Friday, fell 50 cents, or 0.7%, to $68.12 a barrel. The more active November contract dropped 46 cents, or 0.7%, to $67.52. US West Texas Intermediate (WTI) crude futures slipped 45 cents, or 0.7%, to $64.15.

According to Qatar News Agency, both benchmarks rose in the previous session, with Brent on track for a 0.6% weekly gain and WTI for a 0.8% increase. Prices had strengthened earlier in the week following Ukrainian strikes on Russian oil export terminals but came under pressure later as traders anticipated weaker US demand with the Labor Day holiday marking the end of the summer driving period, as well as increased supply from major producers with the expiry of voluntary output cuts.