Oil prices fell on Friday as a collapse in bond prices led to gains in the U.S. dollar and expectations grew that with oil prices back above pre-pandemic levels, more supply is likely to come back to the market.
U.S. West Texas Intermediate (WTI) crude futures dropped 36 cents, or 0.6%, to $63.17 a barrel at 0241 GMT, giving up all of Thursday's gains.
Brent crude futures for April fell 18 cents, or 0.3%, to $66.70 a barrel, following a 16 cent loss on Thursday. The April contract expires on Friday. The more active May contract fell 32 cents, or 0.5%, to $65.79.
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