Crude oil prices for front-month deliveries climbed on Friday bolstered by a positive demand outlook after data showed that industrial production in Germany, Europe's largest economy, recovered in January.
The uptick in price movement appeared to be also supported by Federal Reserve Chair Jerome Powell's Congress testimony, during which he underlined the central bank's readiness to move forward with rate cuts once inflation data showed a sustainable downward path. China's manufacturing activity sector also accelerated last month, largely driven by an increase in new export orders.
West Texas Intermediate (WTI) for April settlements went up by 1.23% to $79.90 a barrel at 3:58 am ET. Brent for May contracts rose 0.95% to $83.75 per barrel.
