Oil dips

Singapore

Oil prices dipped on Friday as part of a broad-based selloff across markets, and despite signs that crude markets are gradually tightening.

Brent crude futures, the international benchmark for oil prices, were at $51 per barrel at 0414 GMT, down 3 cents from their last close. Brent is set for a 2.2 percent drop this week, the most the week ending July 7. U.S.West Texas Intermediate (WTI) crude futures were at $47.06 a barrel, also down 3 cents.

WTI is also set to drop for the week, down 3.6 percent, and also the most since the week ending July 7.Oil traders said the crude falls came amid a selloff across many other markets, including U.S. and Asian stocks, where investors voted with their feet amid growing scepticism U.S. President Donald Trump, embroiled in controversy, would achieve his economic agenda.