Global oil prices rose on Friday, ahead of a speech by the head of the US Federal Reserve, which is expected to have an impact on the dollar and demand expectations.
By 08:40 Moscow time, US West Texas Intermediate crude futures rose 0.84% to $93.30 a barrel.
Brent crude futures rose 0.81% to $100.14 a barrel, according to Bloomberg.
Later Friday, Federal Reserve Chairman Jerome Powell will speak at an economic conference in Jackson Hole, where markets are looking for guidance on monetary policy and the economic situation in the country.
Traders are waiting for signals on the pace of the key rate hike, as the tightening of monetary policy might lead to a stronger dollar, which is negative for oil prices, and lead to a recession which will affect the demand for oil.
Source: Russia Today
