U.S. crude futures settled at $69.23/bl, down $2.69, or 3.74%.

Refinitiv IFR reports Zhejiang Laifu Harmonic Drive Co. will price its Hong Kong IPO at the top of its indicated range, seeking to raise HK$1.1 billion.

US PCE rose 0.4% MoM Thursday, below economists' 0.5% forecast, prompting a modest dollar dip as markets trimmed Fed rate-hike expectations. Deutsche Bank analysts said the print "dampens the recent weeks' heating-up Fed rate-hike narrative." They added that while Fed officials remain cautious on the inflation outlook, markets are increasingly pricing that the Fed may not need to raise rates this year.