Crude oil dropped, extending its biggest monthly drop in 11 months in April, as fresh concerns over economic growth in China weakened the demand outlook.
Brent oil fell towards $103 per barrel as worries about the demand outlook outweighed expectations for the U.S. Federal Reserve and European Central Bank stimulus.
Crude oil rose modestly on Monday, but a shaky outlook for growth in the world's biggest oil consumers encouraged commodities markets to consolidate.
Brent crude oil will hit $115 a barrel by the end of the year, according to a commodity analyst at Roubini Global Economics.
Brent crude oil slid below $103 a barrel after rising $3 in the past two sessions as investors were cautious over the tepid outlook for growth in the world's two largest oil consumers, the United States and China.
Oil prices rose for a second straight day on Thursday, underpinned by strong U.S. equities markets, while U.S. crude's discount to Brent fell below $10 for the first time since June 2012.
Crude oil prices rose with Brent gaining more than $1 a barrel and U.S. crude up nearly $2 as stockpiles of gasoline declined in top consumer the United States, but gains were checked by the prospect of slowing fuel demand in major economies.
Brent crude oil edged down in reaction to weak manufacturing data in China and Europe, but it closed above $100 a barrel for the second straight day as it drew some support from strong gains in U.S. equity markets.
Oil futures rose above $100 a barrel on Monday, extending the two previous sessions' gains as prices drew buyers back into the market following sharp drops earlier in the month.
Brent crude oil prices hovered above $99 a barrel on Friday after surpassing $100 earlier in the session and recovering some ground.
Brent crude oil jumped by more than a dollar to trade above $99 a barrel, snapping a six-session losing streak, with dealers saying it looked oversold after losing 10 percent this month.
Oil prices tumbled on Wednesday, with Brent crude falling below $98 per barrel as rising U.S. fuel supplies added to overall concern about global oil demand.
Brent crude sank to a nine month low, extending a recent rout triggered by data from China and the United States that weakened the outlook for demand.
Brent crude oil sank to a nine-month low on Monday, after bleak Chinese and U.S. data stoked worries of a slowdown in economic growth in the world's top oil consumers.
The super cycle in commodities has come to an end, according to researchers at Citi, who downgraded several mining stocks on Monday as metals prices have continued to decline.
The Obama administration warned Japan not to take measures to devalue the yen to gain a competitive advantage.
Brent crude oil sank to an eight-month low on Friday, as the outlook for global oil demand growth dimmed, although an improvement in U.S. jobs data put a floor under prices.
Brent crude oil fell below $106 per barrel, after analysts cut forecasts for global oil demand growth and U.S. crude oil stocks hit their highest level in more than two decades.
Brent eased below $106 a barrel after U.S. crude oil stocks swelled to the highest level in more than two decades and dented the outlook for demand in the world's top consumer.
Crude oil reversed early losses on Tuesday, after the Energy Information Agency raised its price forecast for Brent, which overwhelmed earlier concerns about faltering global growth.