Crude slides lower but remains above $50 mark

U.S. oil slid lower but remained above the $50 a barrel threshold on Friday, as investors locked in profits from the commodity’s recent climb to a three-week high amid hopes for fresh oil supply cuts.

U.S. crude futures for May delivery were down 0.48% at $50.11 a barrel, just off Thursday’s three-week high of $50.47.

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