SINGAPORE: Brent crude oil edged up towards $115 a barrel on Friday, after falling more than a dollar in the previous session, supported by storm threats and uncertainty about U.S. President Barack Obama's latest plan to revive the world's largest economy.
Brent for October delivery was on track for a weekly gain of more than 2 percent, trading up 27 cents at $114.82 a barrel by 0505 GMT.
U.S. crude oil nudged four cents higher to $89.09 a barrel and was set for a gain of more than 3 percent this week.
Concerns over economic growth and tepid demand for oil remain the main pressure points for the oil markets, offsetting bullish sentiment from Libya's civil war, hurricanes and a battered U.S. dollar.
"The question for the oil market is demand destruction and how confident the consumer is, both of which are very uncertain," said Jeremy Friesen, commodity strategist at Societe Generale in Hong Kong.
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