Brent crude dropped 19 cents to settle at US$37.46 a barrel, after touching a five-month low of $36.64 in the previous session. The front-month Brent contract expired on Friday and the January contract settled down 32 cents. U.S. West Texas Intermediate (WTI) crude fell 38 cents to settle at $35.79 a barrel, after dipping to its lowest since June on Thursday at $34.92. WTI fell 11% for the month, while Brent dropped 10%.
NEW YORK: Oil prices fell on Friday and posted a second consecutive monthly drop as rising COVID-19 cases in Europe and the United States heightened concerns over the outlook for fuel consumption.
Brent crude dropped 19 cents to settle at US$37.46 a barrel, after touching a five-month low of $36.64 in the previous session. The front-month Brent contract expired on Friday and the January contract settled down 32 cents.
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