Investing.com – Oil prices rose on Friday, setting crude futures on course for solid weekly gains, as market sentiment turned more upbeat despite ongoing oversupply.
Brent crude futures were trading at $44.59 per barrel at 09: GMT, up 6 cents, or 0.13% from their last settlement.
U.S. crude was up 16 cents, or 0.37%, at $43.34 a barrel.
Traders said that sentiment in the entire commodity complex had turned more confident despite ongoing oversupply, with new cash being put into the market by investors, lifting prices.