Crude oil prices fell on Friday, pressured by concerns over the outlook for global economic growth. US West Texas Intermediate (WTI) crude futures were down 1.1 percent at $56.71 per barrel. Front-month Brent crude futures were down 0.1 percent at $63.23 per barrel, after closing down 0.8 percent on Thursday. "Concerns over weaker demand outweighed the supply issues," ANZ Bank said in a research note. "Weak economic data earlier in the week set the scene for the bearish outlook." New orders for US factory goods fell for a second straight month in May, government data showed on Wednesday, stoking economic concerns. That suggests oil demand in the United States, the world's biggest crude consumer, could be slowing amid signs of a weakening economy. Weakness in the oil market came despite ongoing tensions in the Middle East, threatening supply routes.
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