Oil prices fell for the fourth session on Friday, heading to record its largest weekly loss in five weeks, due to concerns of raising US interest rates, which would affect fuel demand.
Brent crude futures contract dropped 41 cents, or 0.5 per cent, to $81.18 a barrel. West Texas Intermediate crude futures contract fell 56 cents, or 0.7 percent, to $75.16 a barrel, according to CNBC Economic Network.
Projections on raising interest rates in the world’s largest economy and in Europe have affected the global growth outlook, and pushed both crudes down more than 5 per cent so far this week, their worst drop since early February.
Source: Jordan News Agency