Oil prices rose on Friday amid prospects of a less aggressive US rate hike, although worries about a recovery in demand capped gains.
Brent crude futures for September delivery rose 94 cents, or 1.0%, to $100.04 a barrel by 0630 GMT, while WTI crude rose 63 cents, or 0.7%, to $96.41 a barrel.
The Fed's most hawkish policymakers said on Thursday they favored another 75-basis-point interest rate increase at the U.S. central bank's policy meeting this month, not the bigger rate raise that traders had raced to price in after a report on Wednesday showed inflation was accelerating. read more
The rate hike uncertainty and weak economic data pushed both oil contracts to lows on Thursday that were below the close on Feb. 23, the day before Russia invaded Ukraine in what Moscow calls "a special military operation".
Still, both Brent and WTI had clawed back nearly all losses by the end of the trading session.
However, concerns about the outlook for demand continue to keep a lid on oil prices.
