News Oil Updates – prices set to end week about 4% higher

HOUSTON/SINGAPORE: Oil prices edged lower on Friday but were on track to gain nearly 4 percent for the week, boosted by the International Energy Agency revising its 2024 oil demand forecasts higher and an unexpected decline in US stockpiles.

Brent crude oil futures fell 25 cents or 0.3 percent to $85.17 a barrel at 8:33 a.m. Saudi time, after crossing $85 a barrel for the first time since November on Thursday. US West Texas Intermediate crude fell 22 cents or 0.3 percent to $81.04.

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