LONDON: Oil prices fell more than $2 yesterday to a fresh five-month low on flagging demand in the United States and other consumer nations, extending crude’s losses to 8 percent this week.
US crude traded down $2.15 to $105.74 a barrel by 1550 GMT after settling on Thursday at the lowest level since April 4. London Brent crude fell $2.35 to $103.95. Oil prices have been on a steep downtrend since hitting a record over $147 a barrel in mid-July.