Oil prices were up more than a dollar, closing out the week strong notching the biggest week-over-week jump since October. A falling dollar has been bullish for crude prices this week as the Fed is expected to slow its rate hikes. Also, buoying prices is the reopening in China. “Everyone is looking at Chinese mobility indicators and they point upward, indicating recovering oil demand and supporting prices,” said UBS analyst Giovanni Staunovo. “Next thing to watch is if this translates also into higher Chinese crude imports and if energy agencies (IEA, OPEC) revise upwards their (first quarter) demand estimates,” Staunovo said. WTI traded up $1.47 or 1.9% to close at $79.86. Brent traded up $1.25 or 1.5% to close at $85.28.

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