Oil Prices Firm on Upbeat Demand Growth Forecasts

A 3D printed oil pump jack is seen in front of displayed stock graph and OPEC logo in this illustration picture on April 14, 2020. Dado Ruvic/Illustration/Reuters

LONDON—Oil prices gained ground on Friday amid optimistic demand forecasts from the OPEC producer group and the International Energy Agency (IEA.)

Brent crude was up 49 cents, or 0.6 percent, at $86.89 a barrel at 1118 GMT while U.S. West Texas Intermediate (WTI) crude futures were up 49 cents, or 0.6 percent, at $83.31.