The price of oil continued to decline at the end of European trade and hit its lowest level in four months, while sales driven by a rise in US reserves continued.
Brent’s North Sea barrel for May delivery was worth $54.80 at London’s Intercontinental Exchange (ICE), $1.21 less than Thursday.
In the New York Mercantile Exchange (Nymex), the light sweet crude (WTI) barrel for April delivery was down $ 1.24, to $ 49.04.