Oil Prices Fall as Libya Resumes Output, Global Demand Outlook Darkens

Crude oil storage tanks are seen at the Kinder Morgan terminal in Sherwood Park, near Edmonton, Alberta, Canada, on Nov. 14, 2016. Chris Helgren/Reuters

LONDON—Oil prices fell on Friday on a weakening global demand outlook and the resumption of some Libyan crude oil output.

Brent crude futures fell $1.02 to $102.84 a barrel by 1023 GMT, while U.S. West Texas Intermediate (WTI) crude futures were down $1.08 cents to $95.27 a barrel.