Oil prices extended gains for a seventh straight session on Friday, heading for solid weekly gains on expectations of improved demand growth in China and hopes of less aggressive rate hikes in the United States.
Benchmark Brent crude futures rose 0.2 percent to $84.20 a barrel, while WTI crude futures were up 0.3 percent at $78.61.
Brent prices were up nearly 7 percent so far this week as China's decision to reopen its international borders boosted hopes of higher oil demand.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.