Oil prices closed below $50 a barrel for the first time in more than two months on Friday, declining by more than $5 a barrel in the past week on rising U.S. supplies and slower economic growth.
Light, sweet crude for June delivery fell $2.27 to settle at $49.90 a barrel on the New York Mercantile Exchang, the lowest settlement price since Feb. 18, when Nymex oil futures closed at $48.35.
