Oil prices edged higher on Friday on strong economic data in the euro zone and Britain, but futures fell for the week as interest rate and demand uncertainty weighed.
Brent futures settled up 56 cents at $81.66 per barrel. U.S. West Texas Intermediate crude rose 50 cents to $77.87 per barrel.- to their lowest since the unexpected announcement in early April of production cuts by some OPEC countries - on recession fears and swelling U.S. gasoline inventories.economic recovery
has unexpectedly gathered pace this month as the bloc's dominant services industry saw already-buoyant demand rise, more than offsetting a deepening downturn in manufacturing, surveys showed. "It looks like the economy is rebounding from a feeble winter at the moment, but manufacturing weakness remains a concern and dampens the upturn," ING economics said in a note.
British businesses also reported a bounce in activity and the slowest input cost inflation in more than two years, an
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