Oil was headed for a five-percent weekly gain, the biggest since May, after government statistics showed robust U.S. demand growth and falling inventories, while positive economic indicators lifted sentiment across markets.
Copper crept higher in narrow range trading, supported by a firmer euro and Asian stocks rallying for a second day, although gains looked fragile as buyers were tentative over the fate of the global economy.
Gold edged up to near $1,200 an ounce as bargain buying helped offset selling from speculators, who had shifted some of their money to equities on hopes of an economic recovery.
