While disruptions in Libyan production and Iraqi plans to cut production raised concerns over supply, oil prices rose slightly on Friday, en route to a weekly increase.

Brent crude oil futures for delivery in October, which expire on Friday, were up 46 cents, or 0.58%, to $80.40 per barrel at 8:45am GMT. The most traded contract for November rose by 42 cents, or 0.53%, to $79.24. West Texas Intermediate U.S. crude futures gained 43 cents, or 0.57%, to $76.34. According to Giovanni Staunovo, an analyst at UBS, “oil prices benefit from the latest US economic data suggesting a soft landing and the absence of a recession, reducing fears about demand

However, signs of weakening demand, especially in China, limited gains.