Oil prices fell below $77 a barrel as investors raised concerns about the pace of demand growth by the top oil consumer the US.
For July delivery, US crude fell 17¢ to stand at $76.62 at 12.00 ET, while August Brent gained 9¢ on Friday to $78.77 a barrel, according to Reuters.
Factory activity growth braked to its slowest pace in ten months in the US Mid-Atlantic region in June, while oil product demand increased 1.9% over the past four weeks compared with the figure of the same period last year, according to data from the Energy Information Administration (EIA).
