Oil futures ended lower on Friday, pressured by concerns that the rising cases of COVID-19 will lead to further economic shutdowns and lower demand for crude. U.S. prices, however, ended with a modest gain for the week. "This week, fundamentals generally came in supportive, headlined by a strong draw for U.S. crude and gasoline stocks" in Wednesday's Energy Information Administration report. "Still, gasoline demand provided a bit of a warning signal with a week-on-week decline, which is coupled with expected upticks in unemployment filings ahead as [Thursday] saw the U.S. log a record number of new COVID-19 cases," said Robbie Fraser, senior commodity analyst at Schneider Electric, in a note. August West Texas Intermediate oil fell 16 cents, or 4%, to settle at $40.59 a barrel on the New York Mercantile Exchange. For the week, the front-month contract climbed by roughly 0.1%, according to FactSet data.