Oil prices were down early on Friday as demand concerns persist, but prices were on track for a weekly gain after hitting a five-month high as the U.S. dollar weakened and U.S. crude oil inventories fell. As of 4:00PM CST on Friday, WTI Crude was down 1.00 percent at $41.53 and Brent Crude was trading down 1.02 percent on the day at $44.63. Earlier this week, both benchmarks hit their highest levels since early March, just before Saudi Arabia and Russia broke up the previous OPEC+ pact and engaged in a price war for market share at a time when the pandemic was crushing global oil demand. Prices were supported by a weakening of the U.S. dollar, which typically makes buying oil cheaper for holders of other currencies. The price of oil was also supported on Tuesday and Wednesday by the two reports of a crude oil inventory draw […]