Oil prices rose on Friday as the dollar slipped but were headed for hefty weekly losses on expectations there will be no let-up in sharp US interest rate hikes and the prospect of weaker demand from top oil importer China amid rising Covid-19 cases.
Brent crude futures clawed back 67 cents, up 0.8 per cent to $90.45 a barrel at 0130 GMT, but were not far off a four-week low of $89.53 hit in the previous session.
US West Texas Intermediate (WTI) crude futures rose 70 cents, or 0.9 per cent, to $82.34 a barrel, but held near a six-week low.
A slight decline in the dollar helped oil prices on Friday, as a weaker greenback makes oil cheaper for buyers holding other currencies.
