Crude oil futures ended higher on Friday on hopes demand for oil in China will see an increase soon. Further, a weak dollar also contributed to oil's uptick. Oil prices is gaining support from a looming European Union ban on Russian oil, as well as the recent 2 million-barrels-per-day output cut agreed by the Organization of the Petroleum Exporting Countries and allies including Russia, known as OPEC+.
Benchmark crude oil futures for December delivery rose $0.54 or 0.6 percent at $85.05 a barrel on the New York Mercantile Exchange. Brent crude for December delivery added $0.89 or about 1.21 percent to settle at $93.50 a barrel on London's Intercontinental Exchange.