Brent crude futures settled mostly flat at $86.41 per barrel on Friday as investors weighed weak U.S. fuel demand and took some profits at the quarter's end.

Meanwhile, fresh data showed the Federal Reserve's preferred inflation gauge was flat in May, lifting hopes for rate cuts in September.

On the supply side, EIA data indicated rising U.S. crude and gasoline inventories, raising concerns about demand in the worlds largest oil consumer.

Despite these concerns, Brent prices marked their third straight weekly gain, adding 0.2% for the week and jumping about 6% in June.

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