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TOKYO (Reuters) – Oil prices have been changed over the past two weeks, and have increased significantly in the past.
Brent crude LCOc1 eased 20 cents, gold 0.3 percent, to $ 74.25 by 0523 GMT. On Thursday it gained $ 1.05 a barrel, rebounding from a low session of $ 72.67. It is heading for a weekly fall of nearly 4 percent.
U.S. CLc1 edged up to 5 cents to $ 70.38, after spending most of Asian trading. It is heading for a decline of more than 4 percent.
Libyan oil to the market in China-U.S. trade war.
However, the International Energy Agency (IEA) has been pushing Brent higher on Thursday, helping recoup some losses.
"It's a tough market," said Tony Nunan, oil risk manager at Mitsubishi Corp. in Tokyo. "[Ithinkitissupportedbyverystrongdemandandinventoriesarefallingbutifyoulookatabitbitahead"
The Organization of the Petroleum Exporting Countries (OPEC) and other key producers in the United States of America.
The IEA cautioned that the world's oil supply cushion "might be stretched to the limit" due to production losses in several different countries.
"Rising production from Middle East Gulf countries and Russia, which is likely to be stretched to the limit," said the Paris-based IEA said in its monthly report.
"This vulnerability is likely to continue," said the agency.
China's crude oil imports for a second time in the world, as reported by some of the world's largest refiners, known as "teapots," on Friday.
OPEC crude supply (Source: IEA) reut.rs/2NLDrgP
CHART: US oil may retest support at $ 69.19 bit.ly/2Nbo3sH
CHART: Brent oil may retest support at $ 72.56 tmsnrt.rs/2NJLFFX
Reporting by Aaron Sheldrick; editing by Richard Pullin
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