Oil gains on hopes that easing of coronavirus curbs will push demand boost

Oil prices rose on Friday as more countries began easing lockdowns set in place to stop the coronavirus spreading, giving hope that demand for fuels will pick up after the economic devastation caused by the pandemic.

Brent crude was up 47 cents, or 1.5 per cent, at $29.33 a barrel by 0121 GMT, having fallen nearly 1 per cent on Thursday.

US oil gained 48 cents, or 1.5 per cent, to $24.03 a barrel, after a decline of nearly 2 per cent in the previous session.

Both contracts are heading for a second week of gains after the depths plumbed in April, when