Oil prices dropped on Friday amid worries that U.S. President Donald Trump’s decision to abandon a global climate pact could spark more crude drilling in the United States, stoking a persistent glut in global supply.
Global benchmark Brent crude futures (LCOc1) were down 23 cents, or 0.45 percent, at $50.4 a barrel by 0316 GMT.
U.S. West Texas Intermediate crude (CLc1) futures dropped 26 cents, or 0.54 percent, to $48.1 per barrel.
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