Oil extends gains, but heads for weekly loss

Oil prices rose Friday, amid optimism about the global demand, despite the lingering uncertainty and concerns about the coronavirus crisis.

Baker Hughes showed today that the US oil drilling rigs fell by 4 to a total of 181 this week.

The dollar index fell against a basket of currencies by 0.1% to 96.6 points as of 15:56 GMT, after hitting a high of 96.9 and a low of 96.4.

US President Donald Trump said today that a new trade agreement with the Chinese side isn't a top priority, after the two countries’ relationship has been severely damaged.

West Texas Intermediate crude rose 2.3% to $40.5 a barrel, after it hit an intraday high of $40.7 and a low of $38.5.

Brent rose 2.3% to $43.3 a barrel, with a high of $43.3 and a low of $41.3.