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SINGAPORE - Oil markets rose on Friday as the dollar edged away from a multi-week high, but prices are being held in check by unchanged Russian output for February, a sign of its weak compliance on a global deal to cut supplies.
The dollar slipped on Friday from its highest in seven weeks against a basket of currencies, although still holding close to a level that anchors Brent crude near $55 a barrel and West Texas Intermediate (WTI) just under $53.
Benchmark Brent crude futures rose 14 cents, or 0.3 percent, to $55.22 a barrel as of 0331 GMT. It closed down $1.28, or 2.3 percent, in the previous session.
WTI futures gained 14 cents, or 0.3 percent, to $52.75 a barrel after dropping on Thursday to its lowest since Feb. 9. The U.S. benchmark finished in negative territory the past three sessions.
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