India, June 6 -- Oil traded lower on Friday but headed for its first weekly gain in three as optimism over peak seasonal demand offset lingering concerns about oversupply.
Benchmark Brent crude futures were down half a percent at $65.02 in European trade while WTI crude futures fell half a percent to $63.05.
Oil prices were up more than 3 percent for the week on renewed optimism about U.S.-Chinese trade negotiations, the likelihood of more U.S. sanctions on Venezuelan oil and the threat of Israeli attacks on Iranian energy infrastructure.
Meanwhile, U.S. President Donald Trump on Thursday held a 90-minute "very good" phone call with his Chinese counterpart Xi Jinping, according to a Truth Social post by Trump.
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