Oil price slipped on friday but were set for their weekly rise on expectations for a recovery in fuel demand in Europe, China and the United States as rising vaccination rates lead to an easing of pandemic curbs.
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Crude oil futures traded marginal gains the spread of coronavirus. The economic recovery in US & Europe on the back of increasing rate of COVID-19 vaccination.
Crude oil, which has a major impact on the rupee, settled higher the previous day.
Brent crude settled up 4 cents, or 0.1 percent, at $68.32 a barrel. US West Texas Intermediate crude was up 2 cents, or 0.03 percent, at $64.92. Both benchmarks rose more than 1 percent last week, their second consecutive weekly gain.
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