Oil prices rose on Friday on signs of surging demand in China, the world’s No. 2 oil consumer, although prices were headed for a second weekly decline on swelling U.S. inventories and concern that trade wars were curbing economic activity. Brent crude LCOc1 futures rose 49 cents to settle at $79.78 a barrel. West Texas Intermediate (WTI) crude CLc1 futures rose 47 cents to settle at $69.12 a barrel. For the week, Brent fell 0.9 percent, while U.S. crude lost 3.1 percent. Both contracts have fallen around $7 a barrel below four-year highs reached in early October. WTI’s discount to Brent WTCLc1-LCOc1 widened to its most since June 8, hitting $11.00 a barrel. Refinery throughput […]