RTRS:UPDATE 1-Brent at 5-wk high on positive US data, supply fears
* Brent hits high above $120/barrel, highest in five weeks
* OPEC not in consensus, positive U.S. data drive oil prices
* China May crude imports up 20.7 pct y/y to 5.07 mln bpd (Adds comments, updates prices)
By Seng Li Peng
SINGAPORE, June 10 (Reuters) - Brent crude rose to $120 a barrel for the first time in five weeks on Friday, on better-than-expected trade deficit data from top consumer United States and supply worries after OPEC failed to agree on an output hike.
Strong demand from China, which saw a more than 20 percent year-on-year rise in May crude imports, supported prices. The world's second largest buyer imported more than 5 million barrels per day for a fifth consecutive month in May.
"As we go through the second part of the year, there may be a constant upward revision on Chinese oil demand," said Tokyo-based Mitsubishi Corp's risk manager Tony Nunan.
ICE Brent for July delivery LCOc1 rose 23 cents to $119.80 a barrel at 0647 GMT, after touching $120.07 earlier -- highest since May 5. It was on track for a 3 percent weekly rise, third straight week of gains.
U.S. crude CLc1 reversed early gains to trade down 33 cents at $101.60 a barrel. It hit a high of $102.15 earlier in the day and was headed for an almost 1 percent weekly gain.
