Oil settles lower on clues about Fed policy, rumors of Hormuz deal

Oil prices settled lower on Friday, also down for the week as traders evaluated hints about the U.S. Federal Reserve ​Bank's inflation-fighting policy and rumors of a possible agreement ​on shipping through the Strait of Hormuz.

Brent crude futures settled at $89.31 a barrel, down 39 cents, or ​0.43%. West Texas Intermediate crude futures finished at $83.40 a barrel, down 13 cents, or 0.16%.