(MENAFN)
Prices of oil decreased on Friday as worries over a possible drop in demand for crude oil surfaced and negatively affected the crude oil market.
The West Texas Intermediate for March delivery saw a decline of USD1.40 U.S. to set at USD54.19 per barrel on the New York Mercantile Exchange, after reaching the lowest level for a most active contract since earlier October.
Brent crude for March delivery posted a drop of USD1.35 to set at USD60.69 per barrel on the London ICE Futures Exchange, following a 6.4 percent weekly drop.
Worries about a decline in crude oil demand rose and the situation grew complicated by worries about possibility of oversupply.
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