Oil prices set for weekly gains on renewed enthusiasm around US economy
Oil prices edged lower in early Asian trading on Friday, but the market's benchmarks were set for a second consecutive weekly gain after upbeat U.S. economic data eased investor worries about a potential recession in the top oil consuming nation. Brent crude futures fell 16 cents, or 0.2%, to $80.88 per barrel by 0024 GMT. "US economic data released this week has helped to temper fears of a sharp slowdown in the US economy," analysts at energy consultancy FGE said.