Sharjah24 - Reuters : Oil prices were neutral on Friday as expectations for further easing of COVID limitations in China, which may help in the recovery of demand in the second-largest economy in the world, bolstered market optimism but were limited by a stronger U.S. dollar.
Brent crude futures were down 1 cent, or 0.01%, at $86.87 per barrel by 0731 GMT, after earlier rising to $87.40.
U.S. West Texas Intermediate (WTI) crude futures slipped 21 cents, or 0.3%, to $81.01 per barrel, after climbing to $81.63 earlier in the session.
Both benchmarks were on track for their first weekly gains after three consecutive weeks of decline.
China is set to announce an easing of its COVID-19 quarantine protocols in coming days and a reduction in mass testing, sources told Reuters, which would be a major shift in policy following the widespread protests and public anger over the world's toughest curbs.
IMF managing director Kristalina Georgieva said on Friday a further calibration of China's COVID strategy would be critical to sustaining and balancing the economy's recovery.
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