Rystad Energy

Futures in New York fluctuated near $106 a barrel on Friday

Consumers know they will lose more as a result of spikes in fuel, electricity and gas

The US is to release 50m barrels of oil from strategic reserves

30 oil tankers have been waiting at either side of canal to pass through since Tuesday

Mass rollouts are likely months away and subject to regulatory approvals

Previous session saw losses of nearly 3% and IEA forecasts 5% fall in global energy demand

Pace of economy also pushes oil lower as demand declines

State-owned oil company has begun talks to buy stake in local petrochemical firm

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Rising US oil production is only factor hampering outlook into 2018