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Oil prices are mixed but are heading for weekly gains supported by improved market prospects
Oil prices mixed on Friday, but Brent and US crude are heading for weekly gains again as investors bet that efforts to reduce the global supply gap are working and demand prospects are improving.
US crude fell 8 cents to $ 51.48 a barrel by 0641 GMT, after rising slightly earlier. Crude is still heading for its fourth consecutive weekly gain, up 9 percent this month.
Brent crude <LCOc1> rose 1 cent to $ 57.42 a barrel, heading for its fifth weekly gain and up about 10 percent in September.
The price gains, mostly in the past two and a half weeks, came as traders expected renewed demand from US refineries, which resume operations after hurricane closures.
Outside the United States, major oil producers in the world have also indicated they will stick to production cuts to limit supply.
Oil receives support from Turkey's threats to stop a pipeline from Iraq's Kurdistan region after a referendum in which the Kurds voted overwhelmingly for independence.
The office of Iraqi Prime Minister Haider Abadi said that Turkey pledged on Thursday not to deal only with the government of Baghdad in relation to crude. "Reuters"
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