Oil prices on track for first weekly rise in two months
Oil prices rose in early Asian trade on Friday, on track to notch their first weekly rise in two months after benefiting from a bullish forecast from the International Energy Agency (IEA) on oil demand for next year and a weaker dollar.
Brent futures rose 9 cents to USD 76.70 a barrel at 0006 GMT. US West Texas Intermediate (WTI) crude climbed 10 cents to USD 71.68.
Both benchmarks are on track for a modest weekly gain, having been lifted by a mid-week announcement from theUS Federal Reserve that it is likely to cut borrowing costs next year.
