Oil prices were on the rise on Friday, heading for a fourth straight week of gains, amid more evidence that fuel demand is recovering as countries ease business and social restrictions that were imposed to counter the coronavirus pandemic.
Brent crude was up 14 cents, or 0.4 per cent, at $36.20 a barrel by 0040 GMT, after gaining nearly 1 per cent on Thursday. The contract is heading for a jump of more than 10 per cent for the week.
West Texas Intermediate crude was up 5 cents, or 0.2 per cent, at $33.97 a barrel, having gained more than 1 per cent in the last session. The US benchmark is on track for a weekly jump of around 15 per cent.
