NEW YORK, July 10 (Xinhua) -- Oil prices gained on Friday after the International Energy Agency (IEA) revised up its forecast for crude demand in 2020.

The West Texas Intermediate (WTI) for August delivery climbed 93 cents to settle at 40.55 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for September delivery was up 89 cents to close at 43.24 dollars a barrel on the London ICE Futures Exchange.

The IEA raised its 2020 demand forecast to 92.1 million barrels per day (bpd), up 400,000 bpd from its outlook last month, citing a smaller-than-expected decline in the second quarter as lockdowns eased in many countries.

The agency also warned of lingering risks from the pandemic.

"The recent increase in Covid-19 cases and the introduction of partial lockdowns introduces more uncertainty to the forecast," the IEA said.

For the week, WTI declined 0.3 percent, while Brent booked a weekly increase of 1 percent, according to Dow Jones Market Data, based on the front-month contracts. Enditem

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