Oil prices edge higher but set for first weekly drop since August

SINGAPORE: Oil prices edged up on Friday but were headed for their first weekly losses in at least eight weeks after U.S. oil stocks rose more than expected and Iran flagged it was resuming talks with Western powers which could lead to an end to sanctions.

Brent crude futures rose 27 cents, or 0.3%, to $84.59 a barrel by 0600 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up 12 cents, or 0.1%, to $82.93 a barrel.