Oil prices edges up on weak dollar, U.S.-China tensions weigh - Reuters

Oil prices edges up on weak dollar, U.S.-China tensions weigh - Reuters:

Oil prices edged higher on Friday, supported by a weaker dollar, though tensions between the United States and China weighed.

Brent crude LCOc1 was up 26 cents at $43.57 a barrel at 0944 GMT, while U.S. West Texas Intermediate (WTI) crude CLc1 was up 29 cents at $41.36.

“Both crude benchmarks are roughly back where they were before this week’s upside breakout. Looking ahead, the oil market will likely settle back into a wait-and-see mode amid the increasingly uncertain environment,” PVM analysts said in a note.

China ordered the United States to close its consulate in the city of Chengdu on Friday, responding to a U.S. demand this week that China close its Houston consulate.