Oil prices have fallen below $30 a barrel, a new
12-year low, amid renewed concerns of slow
growth in China - the world's second largest
economy.
The oil price had briefly fallen below $30
previously on Tuesday.
On Friday, US crude futures were 5.45 percent
lower at $29.50 per barrel, while the March
Brent contract was down 4.4 percent at $29.52
a barrel.
Global markets sank on Friday after China's
Shanghai stock index dropped to its lowest
level in more than one year.
The Shanghai Composite Index finished at
2,900.97, down 3.6 percent, its lowest close
since December 8, 2014.
AJ
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