Brent anchored above $100 a barrel, heading for weekly gain | Reuters
Oil prices rose as much as $1 on Friday on signs of improving fuel demand, though an upcoming speech from the U.S. Federal Reserve chairman capped further gains.
Brent crude futures climbed $1.53, or 1.54%, to $100.87 a barrel by 1051 GMT. U.S. West Texas Intermediate (WTI) crude futures rose $1.20 cents, or 1.3%, to $93.72.
Both contracts slumped by about $2 on Thursday but are on track for a weekly gain of around 4% for Brent and 3% for WTI.
Better than expected figures concerning the U.S. economy helped to dispel recession fears.
The U.S. economy contracted at a more moderate pace than initially thought in the second quarter as consumer spending blunted some of the drag from a sharp slowdown in inventory accumulation. read more
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