Home Breaking News Losses for oil accelerate on Nymex, with prices below $50/bbl

Losses for oil accelerate on Nymex, with prices below $50/bbl

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Oil prices fell sharply Friday, steepening earlier losses to dip below $50 a barrel for the first time this month. U.S. equities turned broadly lower “on France election uncertainty and oil, being in a weak technical position, followed along,” said Phil Flynn, senior market analyst at Price Futures Group. Buyers are also cautious ahead of Baker Hughes












BHI, -2.50%










data due later in the session on the U.S. oil-rig count, he said. June WTI crude












CLM7, -1.85%










dropped $1.13, or 2.3%, to $49.59 a barrel on the New York Mercantile Exchange. The contract hasn’t settled below $50 since late March, FactSet data show.



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