Oil prices slipped in early Asian trade on Friday, following a rebound in the previous session, as investors remained torn between worries over tight global supplies and fears a recession could dampen oil demand.
Brent crude futures fell 39 cents, or 0.4%, to $104.26 a barrel by 0013 GMT, dropping away from a near 4% rebound on Thursday. U.S. West Texas Intermediate crude slipped 35 cents, or 0.3%, to $102.38 a barrel, having settled 4.2% higher a day earlier.
Both contracts are set to decline for a second week. Trade this week was marked by a sharp sell-off on Tuesday, where WTI slid 8% and Brent tumbled 9%. Brent’s $10.73 drop was the third biggest for the contract since it started trading in 1988.
