Oil prices fell more than a dollar a barrel on Friday as the dollar strengthened and oil traders profited from a strong rally and crude benchmarks posted their third weekly gain in a row.

Brent crude futures fell $1.49, or 1.8%, to $79.87 a barrel, while West Texas Intermediate crude futures fell $1.47, or 1.9%, to $75.42 a barrel.

The dollar is rebounding as investors consolidate their losses. The US dollar index rose after hitting a 15-month low during the session as investors consolidate ahead of the weekend. A stronger dollar reduces demand for oil and makes crude more expensive for investors holding other currencies.

The rally is likely to continue next week as inflation falls, the US plans to replenish its strategic reserve, and supply disruptions may support the market.

While oil prices are likely to be slightly overbought in the very near term, reaching their highest levels since early May, the trend seems to be slightly higher.

Despite Friday’s losses, oil benchmarks are increasing every week. Oil prices rose nearly 2% on a weekly basis after supply cuts in Libya and Nigeria raised concerns that markets would tighten in the coming months.

Some oil fields in Libya were closed on Thursday as a local tribe protested the kidnapping of a former minister. Separately, Shell has suspended shipments of Nigeria’s Forcados crude due to a potential leak at a terminal.

The Libyan outage halted an estimated 370,000 bpd of oil supply, while the loss from the Nigerian cut was 225,000 bpd.

Russia’s oil exports also fell significantly. If this trend continues next week, it will likely drive prices higher as Russia’s oil exports may fall by 500,000 barrels per day in August.