Oil prices edge higher on easing China curbs, firm dollar limits gains

Oil prices inched higher in Asian trade on Friday on hopes for further relaxation of COVID curbs in China, which could help demand recover in world’s second biggest economy, though a firmer U.S. dollar capped gains.

Brent crude futures were up 20 cents or 0.23% at $87.08 per barrel by 0349 GMT, after earlier falling to $86.59.

U.S. West Texas Intermediate (WTI) crude futures gained 6 cents or 0.07% to $81.28 per barrel, after slipping to $80.88 earlier in the session.

Both benchmarks were on track for their first weekly gains after three consecutive weeks of decline.