Doha: Oil prices dipped just a few cents per barrel on Friday but held on to recent gains, settling near their highest levels in six months amid ongoing developments in the Middle East. Brent crude futures settled at $70.69 a barrel, down 2 cents, or 0.03 percent. The US West Texas intermediate closed at $65.21 a barrel, down 21 cents, or 0.32 percent.

According to Qatar News Agency, a stronger dollar, rebounding from its lowest levels in four years earlier in the week, weighed on oil prices. The currency rose after President Donald Trump announced his choice of Kevin Warsh, a former Federal Reserve Board member, to succeed Jerome Powell as Federal Reserve chairman when his term ends in May.