Oil prices fell Friday amid declining European banking shares and after U.S. Energy Secretary Jennifer Granholm said refilling the country’s Strategic Petroleum Reserve (SPR) may take several years, dampening demand prospects.

Brent crude fell 95 cents, or 1.3%, to $74.96 a barrel, while West Texas Intermediate U.S. crude futures fell 74 cents, or 1.1%, to $69.22 a barrel.

Both benchmarks, which fell over 4% earlier in the session, were on track to end the week higher, after posting their biggest weekly declines in months last week due to banking sector turmoil and worries about a possible recession.