SINGAPORE, May 16 (Reuters) - U.S. crude futures rose towards $102 a barrel on Friday, heading for its biggest weekly gain in five weeks on the back of a resurgence of tensions in Ukraine and upbeat U.S. economic data.
Brent is also set for its best week since early Apirl due to geopolitical risk in Ukraine, although it is likely to face some pressure from returning Libyan supply.
* U.S. crude for June delivery rose 29 cents to $101.79 a barrel by 0056 GMT after falling 87 cents to settle at $101.50 a barrel. The June contract expires on Tuesday.
* Brent oil for July delivery rose 25 cents to $109.34 a barrel, up from $109.09 after the new front contract took effect on Friday.
* Russia faces broader economic and industrial sanctions from the United States and Europe if it meddles in Ukraine's presidential elections on May 25, U.S. secretary of state John Kerry warned on Thursday.
* Ukrainian military checkpoints in the breakaway eastern region of Donetsk faced a new onslaught by armed separatists if they were not withdraw by Thursday, a senior rebel commander warned.
* With Libya's El Feel oilfield back at full capacity and the Wafa field working again after being blocked by protestors, the country's oil output is 300,000 barrels per day (bpd), the National Oil Corporation (NOC) said on Thursday. But there was no clarity on the state of production at the 340,000 bpd El Sharara oilfield.
* Iran's crude exports averaged 1.11 million barrels per day (bpd) in April, the second month in a row exports have fallen, the Paris-based International Energy Agency said on Thursday. This is closer to the 1 million bpd allowed under November's pact between Tehran and six world powers curbing it's nuclear programme.
* Uranium enrichment is the biggest hurdle facing Iran and six world powers in reaching an agreement by July 20 over Tehran's nuclear programme diplomats and officials said on Thursday during three days of talks that end Friday. Iran's on-going missile and space development could complicate an agreement.
* Ukraine is ready to pay $4 billion by the end of May to settle its gas bill with Moscow, said Ukraine's Deputy Energy Minister Ihor Didenko, even as Russia is doubtful the payment can be made. The payment could help diffuse a dispute over gas supplies that could affect Europe.
* Asian shares were under pressure on Friday morning, with Japanese stocks skidding as the yen rose against the dollar, which has struggled in recent days on the back of lower U.S. Treasury yields.
* New U.S. jobless claims hit a seven-year low last week while consumer prices recorded their largest increase in 10 months in April, pointing to a firming economy, U.S. economic data on Thursday showed.
* The following data is expected onn Friday:
- 0200 GMT China Foreign direct investment Jan-April
- 0900 GMT Euro zone Eurostat trade March
- 1230 GMT U.S. Housing starts April
- 1230 GMT U.S. Building permits April
- 1355 GMT U.S. Univ of Michigan sentiment index May
(Reporting By Keith Wallis; Editing by Richard Pullin)