Investing.com - Oil futures were sharply lower Friday after 2016 highs on Thursday as the dollar reversed its downward trend.
U.S. crude lost the $50 mark as profit-taking accelerated ahead of the weekend.
U.S crude was down 59 cents, or 1.17%, at $49.97 at 06:450 ET after a low of$49.66, while Brent crude shed 0.96% to $51.45, off an intraday low of $51.07.
The market remains underpinned by healthy demand from refineries and supply outage problems in Nigeria and other producer countries.
Baker Hughes U.S. rig count data is due out later Friday. The figure rose last week by the most since December to 325