West Texas Intermediate crude headed for the first weekly gain since December amid speculation that U.S. unemployment and manufacturing data signaled the world’s biggest oil consumer will sustain its economic growth. Futures were little changed in New York and have advanced 1.7 percent since Jan. 10. U.S. jobless claims fell last week to the lowest level since November while a factory index for this month increased, according to separate reports yesterday. Industrial production data for December is due today. Prices may retreat next week, according to a Bloomberg News survey. Morgan Stanley said it sees “downside risk” for crude from rising supply. “There’s still a good case for an acceleration in U.S. economic growth, that, even if energy efficiency is rising, will lead to higher oil demand in the U.S.,” said Bjarne Schieldrop, chief commodities analyst at SEB AB in Oslo. WTI for February delivery was at $94.30 a […]