 "Brent crude oil below $103")
Brent was slightly higher but still trading below $103 a barrel on Friday, heading for a second weekly loss as easing geopolitical risks and ample global oil supply pressured prices. US crude production has reached the highest in 28 years due to a shale oil boom. The Organization of the Petroleum Exporting Countries pumped more oil in July despite conflicts in West Asia and Africa.
October Brent crude edged up six cents to $102.69 a barrel by 0642 GMT. The contract was down 1 percent for the week so far. US crude was unchanged at $93.96 a barrel. The United States pumped the most oil in a month in 28 years in July, sending crude imports to 19-year lows, industry group American Petroleum Institute said on Thursday. Oil inventories at West Texas Intermediate's delivery point at Cushing, Oklahoma could also rise soon.
October Brent crude edged up six cents to $102.69 a barrel by 0642 GMT. The contract was down 1 percent for the week so far. US crude was unchanged at $93.96 a barrel. The United States pumped the most oil in a month in 28 years in July, sending crude imports to 19-year lows, industry group American Petroleum Institute said on Thursday. Oil inventories at West Texas Intermediate's delivery point at Cushing, Oklahoma could also rise soon.