Brent oil drops under $70 for first time since April

LONDON: Brent crude oil sank Friday under $70 per barrel before a weekend meeting of major oil producing nations in Abu Dhabi.

In London morning deals, Brent North Sea crude for delivery in January fell as low as $69.69 per barrel, a slide of 96 cents on the day, on surging US energy stockpiles. It comes as OPEC and non-cartel members meet this weekend to discuss a possible cut in crude ouput amid slumping prices.