Oil Prices Inches Higher As Traders Await A Rebound In Chinese Demand

Oil is on course for a second straight week of losses, with investors hoping for clearer signs of recovering fuel demand in China to offset an economic slump across the West. Both major benchmarks were little changed in Friday morning’s early trading, with Brent Crude down 0.23 percent at $81.98 per barrel, while WTI Crude is down 0.29 percent at $75.66 per barrel. The lack of movement consolidates definitive downturns in prices this week, with Brent Crude dropping more than five percent in value – extending a one percent loss from…