Tokyo/Moscow — Oil prices rose on Friday but are heading for yet another weekly decline as concerns intensify that trade disputes and slowing global economic growth could hit demand for petroleum products. Brent crude oil futures were up 65c at $72.09 a barrel by 11.18am GMT. US West Texas Intermediate (WTI) crude futures rose 36c to $65.82. Brent was still heading for a 1% decline for the week, a third consecutive weekly drop. WTI, meanwhile, is on track for a seventh week of losses with a fall of more than 2%. The main drag on prices is the darkening economic outlook on the back of trade tensions between the US and China, and weakening emerging-market currencies weighing on growth and fuel consumption, traders and analysts said. US investment bank Jefferies said on Friday that there is a "lack of demand" for crude oil and refined products from emerging markets, while Singaporean bank DBS said that Chinese data showed a "steady decline" in activity and "the economy is facing added ...
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