Oil prices dropped on Friday extending days of losses as the threat of war in the West Asia receded and investors switched attention to economic growth prospects and the rise in US crude oil and product inventories.
Brent crude fell 20 cents, or 0.3 per cent, at $65.17 by 8:10 am (IST) , and is heading for its first decline in six weeks, down 5 per cent.
WTI was down 20 cents, or 0.3 per cent, at $59.36 and also on track for a first weekly drop in six, nearly 6 per cent from last Friday’s close based on the latest prices.
