Oil headed for its eighth straight weekly decline, the longest losing streak since 2015, as US President Donald Trump’s trade war takes a toll on the outlook for demand and traders braced for a return of Russia barrels to the market.
Oil prices increased as the U.S. stock market rebounded and Russia-Ukraine peace negotiations stalled, reducing the likelihood of Russian crude re-entering the market soon. US crude is narrowly up for the week, barely skirting an eighth straight weekly decline that would be its longest such losing streak since 2015.
