International oil prices fell sharply on Friday, mirroring losses on global stock markets. The drop follows Thursday's surge on news that the United States had emerged from recession.
New York's main contract, light sweet crude for December delivery, fell $US2.87 to $US77 per barrel.
London Brent crude dropped a similar amount to $US75.20 per barrel.
The falls were attributed to profit taking amid lingering doubts about a sustainable recovery in the United States.
Wall Street plunged on Friday: the US Dow Jones index lost 250 points, or 2.5%, to 9,713.
European stock markets also fell: the CAC-40 index in Paris fell 106 points, or 2.9%, to 3,608, while the DAX index in Frankfurt shed 172 points, or 3.1%, to 5,415.
In London, the FTSE 100 fell 93 points, or 1.8%, to 5,045.
