Oil prices dropped on Friday as market participants weighed risks from both the supply and the demand sides, Trend reports citing Xinhua.
The West Texas Intermediate for December delivery lost 80 cents, or 1 percent, to settle at 80.79 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for January delivery decreased 70 cents, or 0.8 percent, to close at 82.17 dollars a barrel on the London ICE Futures Exchange.
For the week, the U.S. crude benchmark dropped 0.6 percent while Brent slipped 0.7 percent.