Oil futures were stuck in a tight trading range Friday, with the U.S. benchmark ending slightly higher but suffering a weekly loss of nearly 5%.

Traders continued to assess risks to global supply from OPEC output cuts and U.S. sanctions on Venezuela, which offered support to prices, but signs of a weakening global economy raised concerns about a slowdown in energy demand.

U.S. benchmark March West Texas Intermediate crude oil US:CLG9 rose 8 cents, or 0.2%, to settle at $52.72 a barrel on the New York Mercantile Exchange, after trading between a low of $52.08 and high of $52.99. Prices finished 4.6% lower for the week, the largest weekly loss since the week ended Dec. 21, according to Dow Jones Market Data.

Source: marketwatch.com