Oil's bull run rolls on despite possible China reserves release | Reuters
Oil futures rose on Friday on course for a fourth weekly gain boosted by supply constraints and a weaker dollar and despite sources saying China is set to release crude reserves around the Lunar New Year. read more
Brent crude futures rose 71 cents, or 0.8%, to near a two-and-a-half month high of $85.18 a barrel at 1430 GMT. U.S. West Texas Intermediate crude gained 57 cents, or 0.7%, to $82.69.
Crude prices turned positive as the dollar headed towards what could be its largest weekly fall in more than a year. A weaker dollar makes commodities more affordable for holders of other currencies.
Several banks have forecast oil prices of $100 a barrel this year, with demand expected to outstrip supply, not least as capacity constraints among OPEC+ countries come into focus. read more
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