Mubasher: Oil futures went down at Friday’s settlement, as worries over a sluggish global demand emerged.

May Nymex WTI lost $0.95, or 1.6%, to close at $59.04 per barrel, rising 0.4% for the week.

Oil and gas rigs in the US declined during the week ended 22 March. The rigs count showed a decline of 9 oil rigs last week, bringing the total count to 824.