Oil prices extended a sharp plunge Friday, with New York's key WTI contract diving more than five percent on fears of a global supply glut.
About 1310 GMT, WTI for delivery in January was down 5.3 per cent at USD 51.74 per barrel. Oil's other main contract, Brent North Sea crude, tumbled 3.3 per cent to USD 60.53 per barrel.
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