Oil edges further above $80 but weaker demand view weighs

Oil edged further above $80 abarrel on Friday as a rally in equities lent support, thoughprices pared most of their gain after a closely watchedforecaster deemed supply adequate and the outlook for demandweakening.

Crude was still heading for its first weekly drop in fiveweeks, pressured by a big rise in U.S. inventories and fadingconcerns for now that looming U.S. sanctions on Iran will cutsupplies significantly. EIA/S

Oil found support on Friday from a gain in world stocks. Adrop in equities amid wider risk-off investor sentiment hadpressured crude on Thursday…

 

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