Driven down by uncertainty about global economic growth and fuel demand, oil prices fell this Friday, heading for their first monthly drop since November.

American West Texas Intermediate crude oil futures were at $69.70 per barrel, down 65 cents, or 0.9%. May's more active Brent crude oil futures fell 59 cents, or 0.8%, to $72.98 per barrel at 07:47 GMT. Brent for the first month, which expires on Friday, traded at $73.42, down 62 cents, or 0.8%. Both benchmarks are on track to record their first monthly decline in three months.

Oil prices nevertheless soared by more than 2% on Thursday as supply concerns resurfaced after Trump revoked a license granted to American oil giant Chevron to operate in Venezuela.