Singapore — Oil prices edged up on Friday, supported by signs of tightening supply and demand fundamentals, although a warning about excessive Chinese economic optimism still weighed somewhat on markets. Brent crude futures, the international benchmark for oil prices, were at $57.39 at 4.20am GMT, up 16c, or 0.28% from their last close. US West Texas Intermediate (WTI) crude futures were at $51.47 a barrel, up 18c, or 0.35%. The stable prices came after a more than 1% fall in prices the previous day. This was put down to profit-taking following four days of straight gains, but also to a sudden market slump which spooked traders after the veteran but outgoing governor of China’s central bank warned of a "Minsky moment", a reference to excessive optimism about economic growth fuelled by vast debt and speculative investment. Tightening market Much of that concern had dissipated by Friday, however, and analysts said there were indicators of a tightening oil supply and demand fundamental...
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