NEW YORK, Aug. 11 (Xinhua) -- Oil prices edged up on Friday on weaker dollar, but posted second straight weekly lost as global glut persists.
Weaker U.S. dollar made the greenback-denominated oil more attractive for holders of other currencies.
The dollar index, which measures the greenback against six major peers, was down 0.40 percent at 93.031 in late trading.
However, the oil prices were under pressure for the whole week as investors were concerned that global glut would persist because major oil producers' compliance with production cuts did not improve.
The West Texas Intermediate for September Delivery added 0.23 U.S. dollar to settle at 48.82 dollars a barrel on the New York Mercantile Exchange, while Brent crude for October delivery gained 0.20 dollar to close at 52.10 dollars a barrel on the London ICE Futures Exchange. Enditem
