Oil prices fell on Friday as the stock market slumped on concerns about rising interest rates and as the U.S. dollar firmed up following a strong U.S. jobs report.
The dollar rose on Friday after the monthly jobs report surpassed expectations, showing the United States added 200,000 positions. Wages also registered the biggest one-month gain since the end of the Great Recession in mid-2009.
A stronger greenback makes dollar-denominated commodities like crude oil more expensive to holders of other currencies.
U.S. West Texas Intermediate (WTI) crude ended Friday's session down 35 cents at $65.45 a barrel. At its session peak, it hit $66.30, not far from a recent three-year high of $66.66.
Brent futures, the global benchmark, fell $1.19, or 1.7 percent, to $68.46 a barrel by 2:33 p.m. ET. It traded as high as $70.02 earlier in the session.