Oil nudges down but secures weekly gain on recovery hopes | Reuters
Oil settled modestly lower on Friday but secured a weekly gain on a stronger demand outlook and signs of economic recovery in China and the United States that offset concerns about rising COVID-19 infections in other major economies.
Brent crude settled down 17 cents, or 0.3%, at $66.77 a barrel. The global benchmark finished up 6% on the week after rising in the past four sessions.
U.S. West Texas Intermediate (WTI) crude settled down 33 cents, or 0.5%, at$63.13.
China's first-quarter gross domestic product jumped 18.3% year on year, official data showed. read more That followed a big increase in U.S. retail sales and a drop in unemployment claims released on Thursday.
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