London — Oil prices dropped for a second day on Friday, pulling further back from a one-year high after oil cartel Opec again lowered its demand forecast and the International Energy Agency (IEA) said the market remains oversupplied.

Brent crude was down 34c, or 0.6% at $60.80 a barrel by 10.5am GMT, having dropped 0.5% in the previous session. US oil was down 39c, or 0.7% at $57.85 after falling 0.8% on Thursday...

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