Oil prices head for weekly gain on China growth hopes

Oil prices slipped in early trade on Friday but were on track to post gains of nearly 2% for the week as a rebound in China’s factory activity offset growing concerns about rising U.S. crude stocks and potential rate hikes in Europe.

Brent crude futures fell 39 cents, or 0.5%, to $84.36 a barrel at 0147 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 41 cents, or 0.5%, at $77.75 a barrel%.