Oil hits multi-month lows as downbeat mood persists

LONDON (Reuters) - Oil prices fell to their lowest since the third quarter of 2017 on Friday, heading for losses of more than 10 percent in a week, as global oversupply kept buyers away from the market ahead of the long festive break.Brent crude fell 77 cents to a low of $53.58 a barrel, its weakest since September 2017, before rallying to trade around $53.75, down 10.8 percent on the week, by 1055 GMT.U.S. light crude oil was down 20 cents at $45.68, also on course for a decline of 10.8..