Oil Updates — Crude climbs; Pyrenees pipeline not a priority for France; Indonesia hikes fuel prices

RIYADH: Oil prices rose on Friday on expectations that the Organization of the Petroleum Exporting Countries and allies, a group known as OPEC+, will discuss output cuts at a meeting on Sept. 5, though concern over China’s COVID-19 curbs and weakness in the global economy loomed over the market.

Brent crude futures rose 66 cents to settle at $93.02 a barrel, while US West Texas Intermediate crude futures rose 26 cents to settle at $86.87 a barrel.

French finance minister says Pyrenees pipeline not a priority