Oil steady near four-week highs on demand revival

MELBOURNE: Oil NSE 0.21 % prices dipped in early trade on Friday but were on course for a weekly gain of more than 6% with an improved oil demand outlook and strong economic recoveries in China and the United States offsetting concerns about spikes in COVID-19 infections.

Brent crude futures fell 17 cents, or 0.3%, to $66.77 a barrel at 0052 GMT, following a 36 cent rise on Thursday.

U.S. West Texas Intermediate (WTI) crude futures were down 19 cents, or 0.3%, to $63.27 a barrel, after climbing 31 cents on Thursday.