Oil claws back

Tokyo : Oil on Friday clawed back some of its losses from the previous session when prices fell the most in a month, although worries that emerging market crises and trade disputes could dent demand continued to drag.

Brent crude was up 23 cents, or 0.3 percent, at $78.41 a barrel by 0122 GMT, after falling 2 percent on Thursday. The global benchmark the day before rose to its highest since May 22 at $80.13 a barrel. U.S. light crude was up 27 cents, or 0.4 percent, at 68.86, after dropping 2.5 percent.

The International Energy Agency on Thursday warned that although the oil market was tightening at the moment and world oil demand would reach 100 million barrels per day (bpd) in the next three months, global economic risks were mounting. "As we move into 2019, a possible risk to our forecast lies in some key emerging economies, partly due to currency depreciations versus the U.S. dollar," the agency said.