Crude prices plunged Friday on demand concerns as speculations on China's monetary-policy triggered a global sell-off.
Commodity prices slumped on Friday after the Shanghai Composite index tumbled 5.2 percent, its biggest drop in 14 months.
Investors were pressured by speculations that China might take further monetary-policy tightening measures to counter inflation challenges.
Before Friday's plunge, crude prices had risen more than 7 percent this month and hit a two-year high this week.
Light, sweet crude for December delivery dropped 2.93 U.S. dollars, or 3.3 percent, to settle at 84.88 dollars a barrel on the New York Mercantile Exchange.
In London, Brent crude fell 2.47 dollars to settle at 86.34 dollars a barrel on the ICE Futures exchange.
Commodity prices slumped on Friday after the Shanghai Composite index tumbled 5.2 percent, its biggest drop in 14 months.
Investors were pressured by speculations that China might take further monetary-policy tightening measures to counter inflation challenges.
Before Friday's plunge, crude prices had risen more than 7 percent this month and hit a two-year high this week.
Light, sweet crude for December delivery dropped 2.93 U.S. dollars, or 3.3 percent, to settle at 84.88 dollars a barrel on the New York Mercantile Exchange.
In London, Brent crude fell 2.47 dollars to settle at 86.34 dollars a barrel on the ICE Futures exchange.
