Oil Prices Poised For A 3% Weekly Gain  

Oil prices were headed early on Friday for a weekly gain of around 3%, pushed higher by signs of a rebounding U.S. economy, tight crude and product markets, and hopes of recovering Chinese oil demand. On Friday morning in Europe, both benchmarks were down by around 1% as of 7:45 a.m. London time, but both were set for a weekly gain of between 3% and 4%.

In the middle of this week, oil jumped by more than 3% on Wednesday as data showed that U.S. crude oil and petroleum exports increased to a record last week, signaling an uptick in demand. The U.S.…