Oil prices recovered from a brief sell-off to gain by more $1 per barrel on Friday and ended the week higher, driven by renewed optimism around demand from top oil importer China, APA reports citing Reuters.
Brent crude futures rose $1.08, or 1.3%, to settle at $85.83 a barrel. U.S. West Texas Intermediate (WTI) crude futures settled at $79.68 a barrel, up by $1.52, or 1.9%. Both benchmarks posted their highest closing levels since Feb. 13.