Brent crude oil prices have dropped generally under $50 a barrel since Thursday. Brent at London futures is trading at $49.79 today. The U.S. WTI crude was at $43.59. Global oversupply, including Middle East production and U.S. shale oil pumping at record levels, and weak China demand are driving prices down. Geopolitical factors, including wars in Iraq, Syria and Yemen appear to have limited impact on saturated crude oil market.