US
Brent, US crude contracts are heading for first weekly decline in 3 weeks
China reports biggest daily jump in Covid-19 cases in more than 10 months
Optimistic mood among investors, positive signs on supply and demand lend support
Saudi Arabia supply cut is part of OPEC-led deal in which most producers will hold output steady
Recovery in oil demand is stalling in Europe due to prolonged movement restrictions
Reza Baqir optimistic about economic outlook despite Covid-19 induced fallout
Rally in global shares also lent some support to crude prices
Unrest at US Capitol by President Trump’s supporters appears to have little impact
Earlier in session, Brent crude rose to about 11-month high
Hopes vaccines may curb spread of virus, drive economic rebound fuel rally