LONDON (Reuters) -Oil prices rose on Friday after a U.S. official told Reuters an immediate Saudi oil output boost is not expected, while indications that the U.S. central bank could raise interest rates less aggressively than anticipated also supported crude.
Brent crude futures for September delivery rose $2.10, or 2.12%, to $101.2 a barrel by 1405 GMT while WTI crude rose $2.18, or 2.28%, to $97.96.
The U.S. Federal Reserve’s most hawkish policymakers on Thursday said they favoured a rate increase of 75 basis points at its policy meeting this month, not the bigger increase traders had priced in after a report on Wednesday showed inflation was accelerating.
