Crude oil prices extended weely losses Friday as a strong US jobs report raised expectations of an interest rate hike in December.
Also, President Barack Obama announced Friday his administration has rejected the permit for construction of the Keystone XL oil pipeline.
A drop in U.S. rigs pumping oil contributed to the decline.
Baker Hughes said the weekly number of active U.S. oil-drilling rigs fell sharply of late.
US WTI crude oil dropped 91 cents, or 2%, to $44.29 a barrel on the New York Mercantile Exchange.
The material has been provided by InstaForex Company – www.instaforex.com