LONDON (Reuters) -Oil prices were down slightly on Friday but set to rise on the week as recession fears eased though an uncertain demand outlook capped gains.
Brent crude futures were down 9 cents, or 0.1%, to $99.51 a barrel 0900 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 38 cents or 0.4% to $93.96 a barrel.
Brent was on track to rise more than 3% this week after last week’s 14% tumble, its biggest weekly decline since April 2020 amid fears that rising inflation and interest rate hikes will hit economic growth and demand for fuel.
Uncertainty capped price gains as the market absorbed contrasting demand views from the Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA).
