Oil prices settle higher Friday, notch sharp weekly losses

NEW YORK, Aug. 5 (Xinhua) -- Oil prices rose on Friday, but suffered marked losses for the week.

The West Texas Intermediate for September delivery added 47 cents, or 0.5 percent, to settle at 89.01 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for October delivery increased 80 cents, or nearly 0.9 percent, to close at 94.92 dollars a barrel on the London ICE Futures Exchange.

Oil