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

TOKYO: 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%, at $29.33 a barrel by 0121 GMT, having fallen nearly 1% on Thursday.

U.S. oil gained 48 cents, or 1.5%, to $24.03 a barrel, after a decline of nearly 2% in the previous session.