Brent Anchored Above $100 a Barrel, Heading for Weekly Gain

An aerial view shows an oil factory of Idemitsu Kosan Co. in Ichihara, east of Tokyo, Japan, on Nov. 12, 2021. Kyodo/via Reuters

LONDON—Oil prices rose as much as $1 on Friday on signs of improving fuel demand, though an upcoming speech from the U.S. Federal Reserve chairman capped further gains.

Brent crude futures climbed $1.53, or 1.54 percent, to $100.87 a barrel by 1051 GMT. U.S. West Texas Intermediate (WTI) crude futures rose $1.20 cents, or 1.3 percent, to $93.72.