Oil slips on stronger US$ but gains on week

New York

OIL slipped on Friday on a stronger US dollar and as investors cashed in on a three-day rally, but prices still ended the week higher after production in Nigeria fell to its lowest in two decades and wildfires slashed output from Canada's oil sands.

The US dollar hit a more than two-week high against a basket of currencies, after strong US retail and consumer sentiment data, weighing on greenback-denominated commodities as imports become more expensive for countries using other currencies, and potentially hitting demand.