Oil prices rose on Friday and were on track for a weekly gain as signs of a weakening U.S. labor market supported the case for Federal Reserve rate cuts later this year.
A weaker dollar hopes over Chinese economic recovery and continuing tensions in the Middle East also lifted prices.
Benchmark Brent crude futures rose half a percent to $84.31 a barrel, while WTI crude futures were up 0.6 percent at $79.76.
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Market Analysis
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.