Oil prices inch up as demand upswing counters virus concerns – ZAWYA

Oil prices inch up as demand upswing counters virus concerns – ZAWYA

Oil prices inch up as demand upswing counters virus concerns | ZAWYA MENA Edition HomeMarketsCommoditiesArticleOil prices inch up as demand upswing counters virus concerns Brent crude futures were 38 cents higher at $41.43    An oil pump is seen in Lagunillas, Venezuela, August 13, 2016. LONDON  - Oil prices inched up on Friday as the bullish impetus from signs of fuel demand recovery was kept in check by a rising number of new coronavirus cases in the United States and China and tentative expecations of U.S. output ticking up.Brent crude futures were 38 cents higher at $41.43 at 0829 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 29 cents at $39.01.Both contracts are on track for a weekly fall of around 1.7% after record U.S. crude inventory data dragged prices down on Wednesday. Brent crude futures were 38 cents higher at $41.43 at 0829 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 29 cents at $39.01.LONDON  - Oil prices inched up on Friday as the bullish impetus from signs of fuel demand recovery was kept in check by a rising number of new coronavirus cases in the United States and China and tentative expecations of U.S.