Oil prices rose on Friday as heightened tensions in the Middle East raised the risk of supply disruptions from the oil-producing region, though prices are set for weekly losses amid expectations of fewer U.S. interest rate cuts this year.
Brent crude futures climbed 51 cents, or 0.57%, to $90.25 a barrel by 0420 GMT, while U.S. West Texas Intermediate crude futures rose 61 cents, or 0.72%, to $85.63.
The gains erased some losses from the previous session, which was dominated by worries about stubborn U.S. inflation that dampened hopes for an interest rate cut as early as June.
