Oil set for weekly loss amid slow Chinese demand

Singapore — Oil prices fell on Friday on signs demand in China, the world’s biggest crude importer, is still underperforming amid its uneven economic recovery. Brent crude futures were down 65c, or 0.9%, at $71.91 a barrel by 4.50am GMT. US West Texas Intermediate crude futures were down 62 cents, or 0.9%, at $68.08.... read full story

"While oil prices have somewhat stabilised around the $71.00 level of support this week, the lack of a concrete bullish catalyst suggests that price recovery remains tepid for now,"