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SINGAPORE (Reuters) – Oil prices rose on Friday because of signs of rising demand in China, the second largest consumer of crude in the world, although prices are falling for the second week due to 39 concerns about the trade war between China and the United States.
An American oil refinery in Philadelphia.
The Brent crude futures traded at $ 79.61 per barrel at 6:45 am GMT, up 32 cents (0.4%) from the previous close.
Futures contracts for basic crude in the western US Texas rose 26 cents, or 0.4%, to 68.91 dollars a barrel.
On a weekly basis, Brent fell 1%, while US WTI crude futures fell 3.4%, making crude a second consecutive decline.
US stocks of crude rose 6.5 million barrels last week and, for the fourth consecutive week, about three times the volumes forecast by analysts, announced Wednesday the US Energy Information Administration.
The preparation of Islam Yahya for publication in Arabic
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