RIYADH: Oil prices rose about 4 percent on Friday, supported by real and threatened cuts to supply, although futures posted a second weekly decline as aggressive interest rate hikes and China’s COVID-19 curbs weighed on the demand outlook.
Brent crude rose $3.69, or 4.1 percent, to settle at $92.84 a barrel. US West Texas Intermediate crude rose $3.25, or 3.9 percent to settle at $86.79 a barrel.
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