WTI crude oil futures slipped 1.4% on Friday to settle at $62.70 per barrel, marking a third straight session of losses as ample supplies and concerns about weakening demand outweighed hopes that the US Federal Reserve’s recent rate cut would boost consumption. Robust global production, ongoing refinery maintenance, and rising US distillate inventories continued to cap near-term price gains. Repeated Ukrainian strikes on Russian energy infrastructure and potential international levies offered some support, but persistent oversupply fears kept prices in check. Traders also watched developments in US-China-India relations, which could influence Russian crude flows, alongside a stronger dollar that dampened demand for dollar-denominated commodities. Despite the Fed’s 25-basis-point cut, signs of a softening labor market and slowing economic activity tempered optimism for a sustained rally.