World oil prices, which had threatened to break the symbolic $120 a barrel level, fell further on Friday after a strengthening US dollar and rising US crude stockpiles prompted traders to lock in profits.

New York’s main oil futures contract, light sweet crude for delivery in June, slid 46 cents to $115.60 per barrel. The benchmark contract closed down $2.24 at $116.06 a barrel during floor trading at the New York Mercantile Exchange on Thursday.

In the foreign exchange market yesterday, the dollar gained in value against the euro amid speculation the US Federal Reserve soon might end its campaign of cutting interest rates. A stronger US currency makes dollar-priced crude more expensive for foreign buyers, tending to discourage demand.