Oil climbs but set for big weekly loss over demand worries - Reuters:
Oil futures were higher ahead of the weekend but remained on track for large weekly losses on fears that slower global economic growth will hurt fuel demand, even as Saudi Arabia said it has fully restored oil output after recent attacks.
Brent crude oil futures LCOc1 rose 12 cents, or 0.2%, to $57.83 a barrel by 0703 GMT, while U.S. West Texas Intermediate (WTI) crude CLc1 futures rose 9 cents, or 0.2%, to $52.54.
“Today in Asia I believe we are seeing some pre-weekend buying, mostly as a risk hedge against anything happening in the Middle East over the weekend,” said Jeffrey Halley, a senior market analyst at OANDA in Singapore.
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