Oil prices shed some of their massive gains on Friday taking stocks in Asia lower, as doubts grew over an oil price deal between Saudi Arabia and Russia that US President Donald Trump said he had brokered.
With the coronavirus pandemic raising the risk of a prolonged global downturn, investors continued to seek the safety of the US dollar and government bonds, pushing US Treasury yields near their lowest in three weeks.
European stocks are expected to drop, with Euro Stoxx 50 futures down 0.26 per cent while German DAX futures and FTSE futures both slipped about 0.3 per cent.
US West Texas Intermediate (WTI) crude lost $1.18, or 4.7 per cent, to $24.14 a barrel, having surged a record 24.7 per cent on Thursday. Brent futures dropped $1.37, or 4.6 per cent to $28.55.
