Oil prices settled higher on Friday, as hopes of rising Chinese demand and a weaker US dollar outweighed concerns about a global economic slowdown and the impact of higher interest rates on fuel consumption.
Brent crude futures rose $1.12, or 1.2 percent, to settle at $93.50 a barrel.
US West Texas Intermediate crude ended Friday's trading, up 0.6%, to $85.05 a barrel.
Brent crude rose 2% by the end of the week, while West Texas Intermediate crude fell by 0.7%.
Crude is gaining a boost from a looming European Union ban on Russian oil, as well as a production cut by the "OPEC Plus" bloc by two million barrels per day.
The fluctuation of the US dollar, which usually moves inversely with oil prices, caused oil prices to fluctuate.
Oil prices increased Thursday;
After "Bloomberg" reported that Beijing is considering reducing the quarantine period for visitors from 10 days to 7, no official confirmation has been issued from Beijing yet.
Wall Street closed higher
Meanwhile, US stocks jumped at the end of the trading week on Friday after a report that the Federal Reserve is likely to discuss a lower interest rate hike in December, raising hopes that the US central bank may be on the verge of adopting less monetary policy. Strict.
According to a report from the Wall Street Journal, some Fed officials have begun expressing their desire to slow the pace of increases soon, with indications of plans to approve a smaller-than-expected increase in December.
Analysts widely expect the US central bank to raise interest rates by 75 basis points during its November meeting, for the fourth time in a row.
Stocks have come under pressure this year since the central bank raised interest rates to rein in inflation, raising fears about the economy falling into recession.
The Dow Jones Industrial Average rose 2.47% to 3,1082.56 points, the Standard & Poor's 500 Index rose 2.37%, while the Nasdaq Composite Index rose 2.31% to 10859.72 points.