Oil prices fell as U.S. Gulf of Mexico crude production resumed following Hurricane Francine and rising data showed a weekly rise in U.S. rig count.

As U.S. Gulf Coast production and refining activity resumes, investors have opted to offload oil contracts going into the weekend.

Investors are looking ahead now to the U.S. Federal Reserve’s two-day policy meeting next week. It is widely expected to cut interest rates on Wednesday.

Brent crude futures settled at 71 dollars and 61 cents per barrel, down 0.5 percent; whereas U.S. West Texas Intermediate crude (WTI) settled at 68 dollars 65 cents a barrel.