Brent futures edged higher on Friday, holding above $48 a barrel on positive technical price momentum, although few analysts expect a strong rebound anytime soon as global output continues to outweigh demand. “Our forecast seems to point towards a consolidation stage in the weeks to come,” Phillip Futures said in a note. Benchmark Brent crude futures were trading at $48.59 per barrel at 0435 GMT, up 32 cents since their last settlement.