Friday 17 August 2018

Oil heads for weekly loss on concerns over trade row | Reuters

Oil heads for weekly loss on concerns over trade row | Reuters:

Oil prices rose on Friday but were heading for yet another weekly decline as concerns intensified that trade disputes and slowing global economic growth could hit demand for petroleum products.

Brent crude oil futures LCOc1 were up 65 cents at $72.09 a barrel by 1118 GMT. U.S. West Texas Intermediate (WTI) crude futures CLc1 rose 36 cents to $65.82.

Brent was still heading for a 1-percent decline this week, a third consecutive weekly drop. WTI, meanwhile, is on track for a seventh week of losses with a fall of more than 2 percent.

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