SEOUL (Reuters) - U.S. crude briefly dropped more than $1 a barrel to below $59 in early Asian trade on Friday after a key psychological support level was broken on Thursday for the first time in five years on concerns over surplus supply and bearish demand.
U.S. crude's front-month contract fell 85 cents a barrel at $59.10 as of 2327 GMT. On Thursday, it settled down 99 cents, or 1.6 percent, at $59.95 a barrel, after falling to $59.56, its lowest since July 2009.
(Reporting by Meeyoung Cho; Editing by Michael Perry)