Oil rose toward $69 a barrel on Friday after two sessions of losses, but remained on track for its biggest weekly drop this year due to rising inventories and concerns of an economic slowdown.
U.S. crude inventories rose to hit the highest since July 2017, suggesting ample supplies in the world’s top consumer. Meanwhile, worries that the U.S.-China trade is developing into a more entrenched dispute have also hit prices.
Brent crude, the global benchmark, rose 85 cents to $68.61 a barrel at 0857 GMT. It was still set for a decline of more than 5% this week. U.S. West Texas Intermediate crude added 75 cents at $58.66.
Source : Reuters