Crude prices inched up on Friday after dropping to their lowest in more than three months the session before, pressured by concerns that a global supply glut is proving stubbornly persistent. U.S. West Texas Intermediate crude (WTI) was up 40 cents at $49.68 a barrel at 0151 GMT. It fell below $50 on Thursday for the first since mid-December, when OPEC and other producers agreed to cut output. Brent crude was up 35 cents at $52.54 a barrel. On Thursday, it settled down 92 cents, or 1.7 percent, at $52.19 a barrel, after slumping 5 percent the day before in its biggest percentage decline in a year. Market confidence has taken a hit after a period of higher prices enticed more U.S. shale oil companies to drill more wells and as stockpiles have remained high. Data showed […]