Oil hovers near 3-month highs on trade deal progress; set for 3rd weekly rise

Oil prices held steady near three-month highs on Friday, heading for a third consecutive weekly rise, on the back of easing Sino-US trade tensions that have weighed on demand as well as the global economic growth outlook.

Brent futures were up 5 cents, or 0.08 per cent, to 66.59 a barrel by 0242 GMT, while US West Texas Intermediate crude was down 8 cents, or 0.13 per cent, at $61.10 per barrel.