Crude oil prices for future contracts dropped 2% on Friday, with demand concerns weighing on the global markets as investors feared that Federal Reserve could lean towards further monetary tightening following key data releases this week.The Federal Reserve may be able to raise rates again, as the latest reading on retail sales in the United States revealed that consumer demand was pushing stronger against high interest rates. Producer prices in the country also went up by 0.7%, potentially signaling that the inflation could be higher-than-expected, therefore raising concerns that policymakers may push for additional rate hikes. For deliveries in March, West Texas Intermediate (WTI) declined 2.01% to go for $76.91 per barrel at 3:35 am ET. Brent for settlements in April went down by 1.96% to sell at $83.48 per barrel at 3:45 am CET. NN: BlackMask Blog: