Oil prices fell over a percentage point 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 $58.44 a barrel at 0211 GMT, down 75 cents from their last settlement. U.S. crude was down 88 cents at $50.55 a barrel.
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