Oil Rises on Prospects of Less Aggressive US Rate Hike

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 on Friday amid prospects of a less aggressive U.S. rate hike, although worries about a recovery in demand capped gains.

Brent crude futures for September delivery rose 76 cents, or 0.77 percent, to $99.86 a barrel by 0929 GMT while WTI crude rose 28 cents, or 0.29 percent, to $96.06.