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Oil prices fell on Friday but were still poised for a weekly gain on supply disruption in Russia while uncertainty looms over a potential peace deal in Ukraine. Brent futures slipped by 62 cents, or 0.81%, to $75.86 a barrel by 1304 GMT while U.S. West Texas Intermediate crude lost 63 cents, or 0.87%, to $71.85. The market has taken a relatively neutral yet nervous stance on crude oil prices, said Ole Hansen at Saxo Bank, with Brent trading near the middle of the expected range for the year, between $65 and $85 a barrel.

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WASHINGTON (Reuters) - Billionaire Elon Musk said on Thursday he is thinking of auditing the Federal Reserve, after calling for greater scrutiny of the central bank in the past.

Federal Reserve Governor Adriana Kugler on Thursday said she believes the U.S. central bank should leave its target for short-term borrowing costs in its current 4.25%-4.50% range, where it is exerting moderate restraint on the economy and on still-elevated inflation. Noting the net effect of new economic policies is highly uncertain and will depend on the specifics, Kugler told an audience at Georgetown University, "going forward I consider it is appropriate to hold the federal funds rate in place for some time, given the balance of risks that we face right now." The comment on her preferred policy rate path was not included in the initial published version of Kugler's remarks.

Kugler said she supported the Fed's decision last month to hold short-term borrowing costs in their current 4.25%-4.50% range, a level she feels exerts moderate restraint on the economy. "I see this as appropriate, given that the downward risks to employment have diminished but upside risks to inflation remain," Kugler said in remarks prepared for delivery at Georgetown University. "The potential net effect of new economic policies also remains highly uncertain and will depend on the breadth, duration, reactions to, and, importantly, specifics of the measures adopted."

(Bloomberg) -- Oil extended a string of marginal gains to settle above $72 a barrel amid uncertainty over global supplies and a slumping dollar that made commodities priced in the currency more attractive.Most Read from BloombergTrump to Halt NY Congestion Pricing by Terminating ApprovalAirbnb Billionaire Offers Pre-Fab Homes for LA Fire VictimsSorry, Kids: Disney’s New York Headquarters Is for Grown-UpsTrump Targets $128 Billion California High-Speed Rail ProjectChild Migrant Watchdog Gutted in

WASHINGTON (Reuters) -The Federal Reserve's top regulatory official cautioned Thursday against a weakening of bank rules and oversight that could make firms vulnerable to surprise shocks. Fed Vice Chair for Supervision Michael Barr, who is stepping down from the regulatory post at the end of February, cautioned against any push to significantly weaken existing bank rules and supervision, and urged watchdogs to complete international capital standards. In what is expected to be his final speech as the Fed's rules chief, Barr maintained that strong rules and robust capital requirements for banks are needed to guard against unforseen shocks.