Oil Prices Set For Weekly Gain Despite Demand Fears

Despite continued pressure on oil prices, the commodity will likely end the week with a gain. Although crude began Friday trade with a loss, it was modestly up at the time of writing. West Texas Intermediate had recovered to top $70 per barrel at the time of writing and it was set for a weekly gain of more than 4%.

On a monthly basis, however, WTI has lost about $3 per barrel. Brent crude also looked set to end the week with an overall gain: the benchmark started the week at around $70 per barrel and has since climbed to over $76 per barrel, although…