Low US demand puts damper on oil price
Brent and US West Texas Intermediate slip but are still on track for a fifth weekly gain
Singapore — Oil prices edged lower on Friday after US inventory data showed lacklustre fuel demand in the world’s largest oil consumer while worsening US-China tensions weighed on global financial markets.
Brent crude slipped 25c, or 0.7%, to $35.04 a barrel by 3.34am GMT and US West Texas Intermediate crude was at $33.18 a barrel, down 53c, or 1.6%. Still, both contracts are set for a fifth weekly gain, helped by production cuts and optimism about demand recovery in other countries...