Oil prices sank on Friday, after U.S. consumer prices rose more than expected and China imposed new COVID-19 lockdown measures.
Brent crude fell $3, or 2.4%, to $120.07 a barrel at 10:56 a.m. EDT (1456 GMT). U.S. West Texas Intermediate crude fell $2.96, or 2.4%, to $118.55 a barrel, according to Reuters.