Oil prices slip on uncertainty over US recovery, stimulus

MELBOURNE: Oil prices slipped on Friday, adding to losses in the previous session, on worries that fuel demand growth will drop amid a resurgence of coronavirus cases and as talks have stalled in the United States on a new stimulus deal.

U.S. West Texas Intermediate (WTI) crude futures slipped 2 cents to $41.93 a barrel at 0246 GMT, while Brent crude fell 6 cents, or 0.1%, to $45.03, after both contracts had earlier traded higher.

However, WTI and Brent are both set for weekly gains of at least 4%, the most for the two benchmark contracts since the week ending July 3.