LONDON: Oil prices extended losses on Friday owing to concerns over soft US economic data and the unfolding crisis in Ukraine, analysts said.
New York's main contract, West Texas Intermediate (WTI) for April delivery, eased nine cents to $102.31 a barrel.
Brent North Sea crude for April slid 27 cents to stand at $108.77 a barrel in London midday deals.
In the US, the world's biggest consumer of crude, data on Thursday showed first-time claims for unemployment insurance benefits, a sign of the pace of layoffs, rose last week, well above analysts' average estimate.
New orders for manufactured durable goods also slipped 1.0 percent in January, extending December's 5.3 percent tumble, the US Commerce Department said.
US Federal Reserve chief Janet Yellen told the Senate Banking Committee that policymakers thought severe weather across much of the country was to blame for a disappointing run of economic data over the past two months, including on jobs, industrial output and consumption.
However, she said they would be keeping a close eye on the economy to see if the weak figures continue, which could lead to a slower pace of cuts to the stimulus programme.
French bank Credit Agricole said in a note to investors that Yellen's comments "gave hope that the poor run of US data will come to end soon, once the weather impact reverses".
Investors are also watching events in Ukraine, a major energy consumer where the ousted pro-Moscow president, Viktor Yanukovych, emerged defiant Thursday after five days in hiding.
Credit Agricole said the escalating situation in the ex-Soviet state's Crimean peninsula, where pro-Russian gunmen have seized government buildings, "resembles the type of stand-off taking place during the Cold War and markets may be underestimating the potential impact".
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