Oil prices headed for biggest weekly increase since July
Brent is heading for a more than 2% weekly gain and while US stockpiles are down, its weekly output increased to 12.5-million bpd
London — Oil gave back some of its recent gains on Friday, but was still headed for the biggest weekly increase since early July, boosted by a decline in US stocks, a looming hurricane in Florida and an easing of China-US trade rhetoric.
Brent crude was down by 15c, or 0.25%, at $60.93 a barrel, by 9.35am GMT, but was heading for a gain of more than 2% for the week. US West Texas Intermediate (WTI) crude futures fell 56c, or 0.99%, to $56.15 a barrel. The contract is set for a gain of nearly 4% this week...