Crude oil prices declined significantly during the trading week, marking a notable shift in energy markets.
The drop in energy costs is being viewed by investors as a positive development for the broader fight against inflation, potentially easing pressure on central banks to maintain restrictive monetary policy for longer.
The retreat in oil coincided with a broader rotation in equity markets.
Global stocks pulled back on Friday, capping a volatile period for technology shares.
Skepticism is growing regarding the sustainability of the AI-fueled rally that has driven major indexes to record highs, prompting traders to reduce exposure to high-multiple tech names.
Micron Technology, a key beneficiary of the AI infrastructure build-out, finished the week in negative territory despite reporting strong earnings results.