Oil edges up after strong economic data, but ends week lower - Reuters:
Oil prices inched up on Friday as strong U.S. economic data boosted demand sentiment and as production losses in sanctions-hit Iran and Venezuela tightened the market.
Still, oil futures recorded weekly declines after a jump in U.S. crude inventories reported this week.
Brent crude oil futures settled at $70.85 a barrel, rising 10 cents. The global benchmark shed 2.6% for the week, breaking a five-week winning streak.
U.S. West Texas Intermediate (WTI) crude futures closed at $61.94 a barrel, up 13 cents, while losing about 3% percent during the week, its second straight weekly decline.
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