Oil prices settled sharply lower Friday, pressured by a stronger dollar and the global oversupply of crude still clouding the outlook for the industry.Weak industrial data from China and a regulatory crackdown on Chinese stockbrokers also put pressure on the commodity, as fears about oil demand resurfaced.
On the New York Mercantile Exchange, West Texas Intermediate futures CLF6, -2.95% fell $1.27, or 3.2% to $41.71 a barrel.
Brent crude LCOF6, -1.30% the international oil benchmark, finished 1.6% lower at $45.46 a barrel on London’s ICE Futures Exchange. Trading volumes were thinner than usual as most financial markets were open for half a day.
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