Oil prices fell in early trade on Thursday, with Brent futures struggling to defend $50 per barrel as fears over strike outages in Norway faded and as Nigeria’s production improved.
International Brent crude oil futures were trading at $50.10 per barrel at 0126 GMT, down 51 cents, or 1 percent, from their last settlement. U.S. West Texas Intermediate (WTI) crude futures were down 38 cents, or 0.76 percent, at $49.50 a barrel.
Traders said the lower prices were a result of an improving supply outlook.
