Oil prices slid in early trade on Friday, extending losses from the previous session on fears US interest rates will go higher than previously expected and fresh concerns that Covid outbreaks will dent fuel demand in China.
Brent crude futures dropped by 22 cents, or 0.2 per cent, to $94.45 a barrel at 0025 GMT after falling 1.5 per cent in the previous session. The contract was on track to fall more than 1 per cent for the week.
US West Texas Intermediate (WTI) crude futures fell 27 cents, or 0.3 per cent, to $87.90 a barrel, deepening a 2 per cent loss from the previous session, but on course to end flat for the week.
