West TX Oil Drops to Near $49 over Yemen

Oil prices edged lower in early trading in Asia on Friday as traders estimated that the threat of a disruption to world crude supplies from Saudi Arabia-led air strikes in Yemen was low.

Goldman Sachs said in an overnight note that the strikes in Yemen would have little effect on oil supplies as the country was only a small crude exporter and tankers could avoid passing its waters to reach their ports of destination.

Internationally traded Brent crude futures were trading at $58.88 a barrel at 0121 GMT, down 31 cents from their last settlement. U.S. crude was down 40 cents at $51.03 a barrel.

CNBC

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