LONDON—Oil prices fell on Friday as demand fears were stoked by rising interest rates and a stronger dollar, though losses were capped by Moscow’s mobilization campaign in its war with Ukraine and apparent deadlock in talks on reviving the Iran nuclear deal.
Brent crude futures fell $2.81, or 3.11 percent, to $87.65 a barrel by 1051 GMT. U.S. West Texas Intermediate (WTI) crude futures were also down, retreating by $2.93, or 3.51 percent, to $80.56.
Front-month Brent and WTI contracts were down 4.03 percent and 5.37 percent respectively over the past week.
Global equities hit a two-year low on Friday while the dollar index reached its highest level in two decades, putting downward pressure on oil….