World Commodities - WORLD COMMODITIES TRADING - World oil prices tumble on fresh trade tensions, record us crude output.

Oil prices fell on Friday, with US crude dropping more than 4%, on fresh trade tensions and record high US crude production, but they still ended the month higher as OPEC watchers expect an extension next week to a pact to throttle oil output beyond March.

Brent crude futures LCOc1 settled down $1.44 at $62.43 a barrel, and was down 1.5% on the week. Still, the contract posted its biggest monthly gain since April with a rise of about 6%.

West Texas Intermediate (WTI) futures CLc1 settled down $2.94 at $55.17, falling of 4.1% on the week, after three consecutive increases. On a monthly basis, WTI is poised...