Brent crude oil fell over 1% in London trading Friday to hit 107.50 a barrel, as Libya resumed some production after disruptions.
"We saw earlier today in Libya that there has been a bit of a pick up in production...Any decrease in supply outages will have a negative effect on [the price of] Brent," said Ole Hansen, an analyst at Saxo Bank.
Brent crude is used as a global benchmark and widely exported, so is more affected by geopolitical issues than its U.S. counterpart, West Texas Intermediate. WTI was down 73 cents, or 0.75%, at $95.66 a barrel.
The strength of the dollar, which saw gains Thursday and held onto them today, also affects the global price of oil. As oil is priced in dollars, a stronger U.S. currency makes the commodity more expensive for the rest of the world and could slow buying.