Oil retreats after 3-day rally on renewed demand, economic growth concerns
TOKYO, October 25 Oil prices stepped back on Friday after three straight days of gains, hurt by renewed concerns about fuel demand in light of gloomy economic growth forecasts.
Brent crude was down 30 cents, or 0.5%, at $61.37 by 0122 GMT. The global benchmark rose nearly 1% on Thursday and is heading for a weekly gain of more than 3%.
West Texas Intermediate (WTI) crude was down 26 cents, or 0.5%, at $55.97. The U.S. benchmark rose 0.5% in the previous session and is on track for a weekly gain of 4.1%.
