Oil Prices On Track For Worst Weekly Loss Since March

Oil prices rose early on Friday but were still headed for their worst weekly performance since March, depressed by rising COVID cases in many countries and renewed travel restrictions in the world’s largest oil importer, China. As of 8:41 a.m. EDT on Friday, WTI Crude was up 0.59% at $69.80. Brent Crude was trading up 1.14% at $72.10. Both benchmarks, however, were down more than 5 percent for the week, the worst showing for oil prices since March this year. This week, oil settled lower in three consecutive sessions amid fears that the faster-spreading…