Oil prices fell 4 percent on Friday, with Brent down a third straight week, as record high U.S. crude stockpiles intensified worries that a plan to freeze world output will do little or nothing to reduce massive oil supplies already in the market.
A slide in the U.S. equity markets, which have for weeks been trading in tandem with oil, also weighed on crude, traders said.
Brent crude settled $1.27, or 3.7 percent, lower at $33.01 a barrel.
U.S. crude lost $1.13, also finishing 3.7 percent lower at $29.64.
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A slide in the U.S. equity markets, which have for weeks been trading in tandem with oil, also weighed on crude, traders said.
Brent crude settled $1.27, or 3.7 percent, lower at $33.01 a barrel.
U.S. crude lost $1.13, also finishing 3.7 percent lower at $29.64.
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