Amsterdam — Brent oil prices held near five-month highs on Friday, and were on track for the biggest weekly gain since late July, on forecasts for rising demand and the gradual restart of US oil refineries.The Organization of the Petroleum Exporting Countries (Opec) this week forecast higher demand for its oil in 2018 and pointed to signs of a tighter global market, indicating its deal with non-Opec states to cut output is helping tackle a glut.That was followed by a report from the International Energy Agency (IEA) saying the glut was shrinking thanks to strong European and US demand, as well as production declines in Opec and non-Opec countries."Prices have now advanced for the last two weeks off increased demand forecasts from both Opec and the IEA combined with the near-term demand uplift expected as US oil refineries seek to restart operations post-Hurricane Harvey," analysts at Panmure Gordon said.Benchmark Brent crude was up 24c at $55.49 a barrel at 1.22pm GMT, in a volatile...
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