Crude oil futures continued to plunge Friday, extending huge weekly losses while hitting the lowest since early 2009.
A warning from the International Energy Agency (IEA) that the global supply glut will worsen next year kept crude oil prices in retreat.
Demand is seen dwindling even as OPEC pumps oil at a furious pace, the IEA said.
A stronger dollar and expectations of a Federal Reserve rate hike have also hurt oil pirces.
January crude settled at $35.62 a barrel, down $1.14, or 3.1% on the day.
The material has been provided by InstaForex Company – www.instaforex.com