WASHINGTON (dpa-AFX) - Oil prices fell slightly on Friday but were on track for a second weekly gain on optimism about improving demand.
Benchmark Brent crude futures slipped 0.2 percent to $85.58 a barrel after climbing 0.8 percent in the previous session as data from the Energy Information Administration showed that crude inventories in the U.S. fell slightly more than expected last week.
WTI crude futures for August delivery were down 0.1 percent at $81.17. The July contract expired on Thursday at $82.17 a barrel, up 0.7 percent.
Prices were subdued in European trade today after flash PMI reports for June from various European economies and U.K. painted a sluggish picture of regional economies.
Eurozone business recovery slowed sharply in June as the manufacturing sector downturn gathered momentum and activity in the services sector deteriorated.
The HCOB's preliminary composite Purchasing Managers' Index, compiled by S&P Global, fell to 50.8 from May's 52.2.
Elsewhere, U.K. private sector growth eased to a seven-month low in June as a slowing of service sector growth offset a stronger performance in manufacturing.
The S&P Global Composite PMI decreased to 51.70 from 53 points in May as some companies put big decisions on hold until after July 4 election.
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