Oil prices rose to their highest level in 10 months on Friday, after China cut banks' cash reserve requirements to boost its economic recovery, and on expectations that major global interest rate hike cycles were nearing their end.
Brent crude rose 46 cents, or 0.5%, to $94.16 as of 0027 GMT, while the U.S. West Texas Intermediate crude was up 0.6% at $90.74. Both the benchmarks were trading at their highest levels since November.
Persistent worries about supply, and expectations of the U.S. central bank holding rates after Europe hinted its Thursday hike would be its last, have put oil prices on track to finish higher for a third straight week.
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