Oil futures rose on Friday on course for a fourth weekly gain boosted by supply constraints and a weaker dollar and despite sources saying China is set to release crude reserves around the Lunar New Year.
Brent crude futures rose $1.16, or 1.4 per cent, to a two-and-a-half month high of $85.63 a barrel at 1125 GMT. US West Texas Intermediate crude gained $1.06, or 1.3 per cent, to $83.18.
Crude prices turned positive as the dollar headed towards what could be its largest weekly fall in more than a year. A weaker dollar makes commodities more affordable
Brent crude futures rose $1.16, or 1.4 per cent, to a two-and-a-half month high of $85.63 a barrel at 1125 GMT. US West Texas Intermediate crude gained $1.06, or 1.3 per cent, to $83.18.
Crude prices turned positive as the dollar headed towards what could be its largest weekly fall in more than a year. A weaker dollar makes commodities more affordable