China Demand Optimism Sets Oil on Track for Strong Weekly Gain

China Demand Optimism Sets Oil on Track for Strong Weekly Gain
An oil field worker works at a pump jack in PetroChina's Daqing oil field in China's northeastern Heilongjiang Province on Nov. 5, 2007. (Stringer (China)/Reuters)
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Oil prices rose on Friday, set to gain more than 6 percent for the week, on solid signs of demand growth in top oil importer China and expectations of less aggressive interest rate rises in the United States.

Brent crude futures rose by 5 cents to $84.08 a barrel by 0746 GMT, off a session low of $83.50. U.S. West Texas Intermediate (WTI) crude futures gained 13 cents to $78.52 a barrel after falling to $77.97 earlier in the session.