By NEW YORK (Reuters) - Oil prices settled lower on Friday, weighed down by a build in U.S. crude inventories and worries that new pandemic restrictions in China will curb fuel demand in the world’s biggest oil importer.Brent crude futures fell 69 cents to settle at $55.41 a barrel, for a 0.4% change on the week.U.S. West Texas Intermediate (WTI) crude futures fell 86 cents, or 1.6%, settling at $52.27, nearly unchanged from the beginning of the week.Overall U.S. crude inventories surprisingly rose by 4.4 million barrels in the most recent week, versus expectations for a draw of 1.2 million...…By NEW YORK (Reuters) - Oil prices settled lower on Friday, weighed down by a build in U.S. crude inventories and worries that new pandemic restrictions in China will curb fuel demand in the world’s biggest oil importer.Brent crude futures fell 69 cents to settle at $55.41 a barrel, for a 0.4% change on the week.U.S. West Texas Intermediate (WTI) crude futures fell 86 cents, or 1.6%, settling at $52.27, nearly unchanged from the beginning of the week.Overall U.S. crude inventories surprisingly rose by 4.4 million barrels in the most recent week, versus expectations for a draw of 1.2 million...WW…

By LONDON (Reuters) - Renewed lockdown measures in Europe aimed at containing a rise in COVID-19 cases appear set to push the outlook for global oil demand toward the downside, an official with the International Energy Agency (IEA) said.Keisuke Sadamori, IEA director for energy markets and security, told Reuters the impact would, however, likely be less severe than under lockdowns earlier in the year.“Major parts of the European continent are in lockdown. This would surely work toward the negative side,” he said in an interview, but stopped short of saying the group would formally lower its...…By LONDON (Reuters) - Renewed lockdown measures in Europe aimed at containing a rise in COVID-19 cases appear set to push the outlook for global oil demand toward the downside, an official with the International Energy Agency (IEA) said.Keisuke Sadamori, IEA director for energy markets and security, told Reuters the impact would, however, likely be less severe than under lockdowns earlier in the year.“Major parts of the European continent are in lockdown. This would surely work toward the negative side,” he said in an interview, but stopped short of saying the group would formally lower its...WW…

By NEW YORK (Reuters) - Oil prices climbed by more than $1 a barrel on Tuesday on hopes that major crude producers will agree to extend output cuts during a video conference expected to be held this week and as countries and U.S. states begin to reopen after coronavirus lockdowns.Both benchmarks neared three-week highs.“There’s the anticipation that OPEC+ is going to agree to extend their current levels for another two months, and at the same time, the market anticipates that the reopening of economies around the world will increase demand and will get us in a position such that, by August,...…By NEW YORK (Reuters) - Oil prices climbed by more than $1 a barrel on Tuesday on hopes that major crude producers will agree to extend output cuts during a video conference expected to be held this week and as countries and U.S. states begin to reopen after coronavirus lockdowns.Both benchmarks neared three-week highs.“There’s the anticipation that OPEC+ is going to agree to extend their current levels for another two months, and at the same time, the market anticipates that the reopening of economies around the world will increase demand and will get us in a position such that, by August,...WW…