Oil set for weekly gain as China demand optimism trumps recession fears
By Sudarshan Varadhan and Muyu Xu SINGAPORE (Reuters) -Oil prices fell on Friday, but were poised for a weekly gain as renewed optimism on China’s demand recovery over-rode recession worries brought by growing crude inventories in the U.S. and tightening monetary policy in Europe. Brent crude futures fell 31 cents, or 0.4%, to $84.44 a barrel at 0412 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 29 cents, […]