Oil futures edged lower early Friday after surging 7.2% in the previous session. Crude oil for April delivery fell 49 cents, or 1%, to $51.12 a barrel in electronic trading on Globex. The April contract expires Friday. Crude for May delivery, which drew higher trading volume, fell 69 cents to $51.35 a barrel. "Oil prices are slightly lower, but remain above $51 per barrel and are set to gain for a fifth week as the Fed's purchase plan lifts hope for a global recovery," said analysts at Action Economics.
