Oil falls 1% on lacklustre demand, set for biggest weekly drop since June For Technical Help@9389700667 https://wa.me/917900407979 www.deltamcx.com

 Oil futures slipped on Friday, with prices on both sides of the Atlantic heading for their biggest weekly drops since June, as demand and ample fuel supplies offset support from a weaker dollar.

Brent crude fell Texas Intermediate was at  a barrel, down 43 cents and set for its first weekly drop in five weeks.

The volume of crude arriving in China, the world’s largest crude importer, is set to slow in September after rising for five straight months as its refiners gradually digest bloated inventories, according to data on

In the United States, refiners awash in diesel inventory are unlikely to boost output soon.

“Soft margins are likely to cap further crude rallies and we anticipate further run cuts this fall to expedite the  of product stocks,” Capital analyst Mike Tran said in a note.

Production cuts led U.S. gasoline inventories to fall at a ” pace in the past two months, even though U.S. mobility indicators suggest that driving patterns have largely plateaued over the past 6-8 weeks, he added.