Tokyo — Oil prices were set to fall this week, with both benchmarks dropping slightly on Friday, on the concern among investors about rising supply from the US and other nations threatening to undermine efforts by Opec and other producers to tighten the market. West Texas Intermediate (WTI) oil futures for April delivery fell 3c, or 0.1%, to $61.16 a barrel at 3.54am GMT, after settling up 23c on Thursday. WTI is set to fall 1.4% this week, reversing the previous week’s 1.3% gain. Brent crude futures trading in London fell 7c to $65.05 a barrel after settling up 23 cents. Brent is down 0.7% for the week. Several reports this week renewed investor focus on the potential for rising supply to overwhelm the expected gains in crude demand for 2018. On Thursday, the International Energy Agency (IEA) said global oil supply increased in February by 700,000 barrels a day from a year ago to 97.9-million barrels a day. The agency also said supply from producers outside of oil cartel Opec, led ...
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