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NEW YORK: World oil prices fell on Friday as traders weighed uncertainty in the global economy that could shake demand.
New York's main contract, West Texas Intermediate for delivery in November fell 66 cents to $79.85 a barrel, one day after losing more than five dollars.
Brent North Sea crude for November dropped $1.52 to 103.97.
The market remained dogged by persistent worries over another potential recession in the United States and the deepening debt crisis in the eurozone.
The United States is the world's biggest economy, and the biggest oil-consuming nation. It has yet to fully recover from the 2007-2009 recession, which was the country's worst since the Great Depression in the 1930s.
"We've seen a few attempts to push higher but every time we got into positive territory we've seen selling interest rise again," said Matt Smith of Summit Energy.
"It's really that uncertainty and nervousness, general trepidation in the market which is taking away the impetus for the prices to go higher."
"The feeling is that after such a large sell off yesterday, nothing has been resolved, we haven't learned anything today so it is really just the case of people unwilling to buy going into this weekend when there is so much uncertainty."
-AFP/wk
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