Oil Prices Are Heading for a Second Consecutive Weekly Decline

Oil prices fell in Friday trade in Asia and were poised for a second straight weekly decline as concerns about demand more than offset falling U.S. crude inventories and rising odds of a September interest rate cut from the Fed. Early on Friday, the U.S. benchmark, WTI Crude, was down by 0.6% and traded at around $82.30, while Brent Crude, the international benchmark, fell by 0.56% to $84.63. Both benchmarks were on track to post a weekly decline of about 0.3%.   Prices rose on Wednesday and early on Thursday, pushed up by a larger-than-expected…