Oil sinks 3% as Trump again pressures OPEC to lower crude prices

Oil prices fell 3% on Friday after U.S. President Donald Trump again pressured the Organisation of the Petroleum Exporting Countries to raise crude production to ease gasoline prices.

Traders said Trump's comments, despite lacking specifics, were enough of a catalyst to spur investors to take profits after a long bull run that had pushed prices to six-month highs.

Brent crude futures settled at $72.15 a barrel, down $2.20, or 3 percent. West Texas Intermediate crude ended at $63.30 a barrel, down $1.91, or 2.9 percent.

Brent was flat on the week after rallying for four weeks in a row. WTI saw a 1.2 percent weekly loss, breaking its six-week bull run.

Trump told reporters on Friday that he had called OPEC and told the cartel to lower crude prices, without identifying who he spoke to, or if he was speaking about previous discussions with OPEC officials.

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