Oil prices are heading for weekly gains

Media In / Agencies 11-01-2019

Oil prices are heading for strong weekly gains on Friday as financial markets received support from hopes of resolving trade disputes between the United States and China soon.
Oil prices have rebounded in tandem with the start of OPEC-led production cuts to reduce supply, but the market is still on the lookout for forecasts of an economic slowdown in 2019, Reuters reported.
Brent crude futures reached $ 61.59 a barrel, down 9 cents, or 0.15 percent, from the previous settlement.
WTI crude futures fell four cents from the previous settlement to $ 52.55 a barrel.
Crude is heading for gains for the second week, with Brent up nearly 8 percent, and WTI rising about 10 percent.