Oil up but posts weekly loss on stock build, trade tensions [CNBC]
GE Aerospace (GE)
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Source: CNBC
Oil prices rose on Friday on signs of surging demand in China, the world's No. 2 oil consumer, although prices were headed for a second weekly decline on swelling U.S. inventories and concern that trade wars were curbing economic activity. Brent crude futures rose 43 cents to $79.66 a barrel, a 0.5 percent gain. West Texas Intermediate (WTI) crude futures settled 47 cents higher, or 0.7 percent, at $69.13 a barrel. For the week, Brent crude was 0.3 percent lower. WTI fell nearly 3 percent this week and below four-year highs reached in early October. WTI's discount to Brent widened to its most since June 8, hitting $11.00 a barrel. Refinery throughput in China, the world's largest oil importer, rose in September to a record 12.49 million barrels per day (bpd), government data showed. China's healthy oil demand, together with persistently high compliance of countries participating in the OPEC-led output-cut agreement, are supportive of prices in today's trading se
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