Brent futures rose 3 cents to $79.67 a barrel by 0016 GMT, while U.S. West Texas Intermediate crude climbed 9 cents to $75.74 a barrel. Prices closed marginally higher on Thursday.
Brent was on track to close down 0.2% for the week, while WTI was set to tick up 0.4%. Both benchmarks had gained for three consecutive weeks.fell last week, supported by a jump in crude exports as well as higher refinery utilization, the Energy Information Administration said on Wednesday. In addition, recent data, including lower-than-expected inflation and moderating job growth, have convinced many investors and analysts that the Federal Reserve's expected July rate hike will be the last of its current tightening cycle.Keeping a lid on prices, however, were
. The world's second biggest oil consumer this week posted disappointing growth in second-quarter gross domestic product, increasing the likelihood of the economy's missing the government's 5% annual growth target.
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