US Oil prices fell on Friday on renewed fears of weak demand. Brent crude slipped as low as $106.05, after breaking below the 200-day moving average to settle at $106.99 on Thursday. Prices dropped 68 cents to $106.31. The contract has slipped more than 9 per cent this month, the worst since a 15 per cent drop in May 2010. US crude slipped as low as $80.66 a barrel and traded $1.01 a barrel lower at $81.37. The contract slipped nearly 6 per cent to settle at $82.38 and has lost 15 per cent so far this month, the steepest since December 2008.