Oil prices rose today reversing some of the losses from earlier in the week but still closing down WoW for the 7th week in a row. Both benchmarks are down 3.8% for the week. Fueling the market’s downturn, Chinese customs data showed its crude oil imports in November fell 9% from a year earlier as high inventory levels, weak economic indicators and slowing orders from independent refiners weakened demand. Like crude, U.S. RBOB gasoline futures on Friday rebounded about 3% from two-year lows on Thursday. “Wednesday’s Energy Information Administration (EIA) report which spurred concern of soft demand on a significant increase in gasoline inventories, may not be as concerning in the wake of the strong jobs report,” said Rob Haworth, senior investment strategy director at U.S. Bank Asset Management. WTI traded up $1.89 or 2.7% to close at $71.23. Brent traded up $1.79 or 2.4% to close at $75.84.