Oil settles lower on rise in U.S. coronavirus cases

NEW YORK (Reuters) - Oil prices settled lower on Friday as new coronavirus cases spiked in the United States and China, and on growing concerns about rising U.S. output ticking up while crude stockpiles sat at record highs.Brent crude futures settled down 3 cents at $40.91, falling 1% on the week. U.S. West Texas Intermediate (WTI) crude futures fell 23 cents to $38.49, down 1.6% on the week.Earlier gains, supported by optimism over rising road traffic boosting fuel demand, were erased in U.S...