India, May 3 -- Oil prices were marginally higher on Friday but were set for their steepest weekly loss in three months amid easing Middle East tensions and signs of weak U.S. demand.
Benchmark Brent crude futures were up 0.1 percent at $83.75 a barrel while WTI crude futures were up 0.1 percent at $79.04.
Brent was on course for a 6 percent weekly decline and WTI for a 5.5 percent weekly loss.
After the U.S. Federal Reserve flagged inflation concerns and signaled delayed rate cuts, investors now await the all-important nonfarm payrolls report later in the day for important clues on the economic and rate outlook.
The global economy is proving resilient, and inflation has declined, but any widening of the conflict in the Middle East coul...