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REUTERS
Brent oil tumbled below $50 on Friday, heading for a second straight week of losses, on worries that US President Donald Trump's decision to abandon a climate pact could spark more crude drilling in the US, worsening a global glut. Benchmark Brent crude futures were trading at $49.67 a barrel at 8:49am GMT, down 96 cents from the previous close. US West Texas Intermediate crude futures fell 95 cents to $47.41 per barrel. Both contracts were on track for weekly losses of close to 5%.
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REUTERS
Brent oil tumbled below $50 on Friday, heading for a second straight week of losses, on worries that US President Donald Trump's decision to abandon a climate pact could spark more crude drilling in the US, worsening a global glut. Benchmark Brent crude futures were trading at $49.67 a barrel at 8:49am GMT, down 96 cents from the previous close. US West Texas Intermediate crude futures fell 95 cents to $47.41 per barrel. Both contracts were on track for weekly losses of close to 5%.
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