Brent crude oil fell more than $1 to hit a two-week low on Friday, slipping to $105 a barrel in its third straight day of losses as oversupply in the Atlantic basin and low demand outweighed worries over political tensions in the Middle East, North Africa and Ukraine.
Analysts say they expect global oil production to exceed demand this year, and a supply glut has already built up in the West African and European markets.
Worries over geopolitical risks to oil supply have eased despite escalating violence in parts of the Middle East and North Africa.
U.S. RBOB gasoline prices led the complex lower, falling by 1.5 percent during the session. U.S. gasoline stocks have climbed by more than 4.5 million barrels over four consecutive weeks of builds.