oil futures declined on friday with us prices holding on to a weekly rise of 46 “global central banks keep suggesting that they are going to win the war against inflation at any cost” said phil flynn senior market analyst at the price futures group “one of the casualties the market fears could be a global recession that theoretically will reduce oil demand” he said however “the reality is that demand destruction based on a mild recession won’t be as bad as people think if you add to that the reopening of china” the us benchmark wti crude for january delivery clf23 fell 182 or 24 to settle at 7429 a barrel on the new york mercantile exchange