Crude futures settle lower

NEW YORK, Nov. 8 (Xinhua) -- Oil prices fell on Friday.

The West Texas Intermediate for December delivery dropped 1.98 U.S. dollars, or 2.74 percent, to settle at 70.38 dollars a barrel on the New York Mercantile Exchange. Brent crude for January delivery decreased by 1.76 dollars, or 2.33 percent, to settle at 73.87 dollars a barrel on the London ICE Futures Exchange.