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Oil edges up, heads for weekly loss on slowdown worries

Reuters  |  LONDON 

By Shadia NasrallaLONDON (Reuters) - Benchmark oil prices inched up on Friday but were heading for a weekly loss, pulled down by worries about a global economic slowdown, although OPEC-led supply cuts and U.S. sanctions against Venezuela provided crude with some support. Weighing on financial markets were concerns that a trade dispute between the United States and China would remain unresolved, denting global economic prospects. International Brent crude futures had erased earlier losses by 1422 GMT, gaining 59 cents to $62.22 per barrel. On the week, they were set for a loss of around 0.8 ...

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First Published: Fri, February 08 2019. 20:21 IST