Oil Prices Set For Second Consecutive Weekly Gain

Oil prices were poised for a second weekly gain in a row early on Friday, as traders bet that the worst of the demand loss is behind us while production cuts from OPEC+ and North America will accelerate. As of 10:36 a.m. EDT on Friday, WTI Crude was up 4.71 percent at $24.72, and Brent Crude was trading up 3.02 percent at $30.39. Oil prices are on course to wrap up their second consecutive week of gains, following one of the worst months in the history of oil, which saw WTI Crude front-month futures plunge into negative territory…