Oil prices edged higher on Friday but were on track for their first weekly fall in seven as new U.S. coronavirus cases spiked, raising the prospect of a second wave hitting demand.

Brent LCOc1 was up 27 cents, or 0.7%, at $38.82 a barrel by 1204 GMT, having lost more than $1 earlier in the session.

After falling more than 5% on Friday, West Texas Intermediate CLc1 was up 19 cents, or 0.52% to $36.53 a barrel. Both contracts ended around 8% lower on Thursday.

The oil benchmarks are heading for weekly declines of more than 8%, their first after six weeks of gains which have lifted them off their April lows.