Oil retreats after 3-day rally on renewed demand, economic growth concerns
TOKYO: 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 per cent, at $61.37 by 0122 GMT. The global benchmark rose nearly 1 per cent on Thursday and is heading for a weekly gain of more than 3 per cent.
