U.S. crude sharpens decline, on way for weekly loss

U.S. crude prices fell on Friday, getting on track for a weekly loss after three winning weeks, as worries resurfaced in the markets following the failed OPEC meeting in Vienna. 

U.S. crude futures last traded at $48.60 a barrel, compared to the opening price of $49.02, with a session-high at $49.02, and a low at $48.50. 

OPEC ended their biannual meeting without reaching a deal on capping production, which raised doubts in the markets that prices would resume their fitful decline. 

Crude's losses come even as the dollar registers big losses against a basket of major rivals, hitting a three-week low after dismal employment data. 

The dollar index, with gauges the U.S. currency against a basket of major rivals, last traded at 94.03, compared to the opening of 95.56, with a session-high at 95.63, and a three-week low at 93.97, with the index nearing its first weekly loss after four weeks of gains.