Oil price drops following bad economic forecasts
The price of oil has fallen by almost $2 after several days of gains following more bad economic news that dragged global stock markets lower.
The price of US light crude fell by $1.95, or 3.6%, to $52.39 a barrel. London Brent oil fell $1.57 to $51.89.
On Thursday, prices hit their highest level of the year as economic optimism led to hope of increased demand.