Oil pares some losses ahead of Baker Hughes data

Oil prices fell on Friday, as the US dollar rose against most of its peers, ahead of the Baker Hughes oil rigs count data.

US President Joe Biden announced the US rejoining the Paris agreement on climate change, and his administration is considering halting oil and gas exploration agreements of his predecessor Donald Trump.

And Baker Hughes, the oil services company, will announce later today, data for its crude and natural gas exploration activities in the United States for this week.

The dollar index rose against a basket of major currencies by 0.1% to 90.1 points as of 16:41 GMT, after hitting a high of 90.3 points and a low of 90.05 points.

As of 16:39 GMT, WTI crude February futures fell 1.3% to $52.4 a barrel, after hitting a day high of $53.1 and a low of $51.4.

Brent March futures fell 1.2% to $55.4 a barrel, after hitting a high of $56.03 and a low of $54.8.