Oil Climbs 3 Percent as Dollar Slips and EU Ban Looms

Pump jacks operate at sunset in an oil field in Midland, Texas, on Aug. 22, 2018. Nick Oxford/Reuters

LONDONO—Oil rose by more than 3 percent on Friday as the dollar eased, with an EU ban on Russian oil looming large.

Though fears of global recession capped gains, Brent crude futures were up $3.29, or 3.48 percent, at $97.96 a barrel by 1203 GMT, set for a weekly gain of more than 2 percent.