Oil prices extended gains on Friday and were on course for a weekly gain of about 7% 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 rose 30 cents, or 0.5%, to $67.24 a barrel at 0551 GMT, following a 36 cent rise on Thursday.
U.S. West Texas Intermediate (WTI) crude futures were 28 cents, or 0.4%, higher to $63.74 a barrel, after climbing 31 cents on Thursday.
China's 2021 net crude oil imports are forecast to grow 3.4% this year versus 2020 to about 11.2 million barrels per day, a unit of top oil and gas group China National Petroleum Company said.
China reported a reco... Read more »
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