Brent crude futures fell $2.46, or 2.8%, to $85.92 a barrel by 01:36 GMT.
The contracts had earlier fallen 3%, in the largest decline since December 20 (December).
The global benchmark touched $89.50 a barrel on Thursday, the highest level since October 2014.
US West Texas Intermediate crude futures fell $2.61, or 3.1%, to $82.94 a barrel.
And US crude contracts fell earlier 3.2%, which is also the largest decline since December 20, following rising to its highest level since October 2014 on Wednesday.
Gasoline stocks rose in the United States, the world’s largest oil consumer, by 5.9 million barrels, to the highest level since February 2021, according to the US Energy Information Administration. Crude stocks rose 515,000 barrels last week, missing industry expectations.
The administration’s data also showed a limited decrease in crude consumption in refineries, which indicates a decline in demand.
