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Oil prices eke out small gains ahead of US Fed Chair speech

Updated : August 23, 2019 08:00 AM IST

Brent crude rose 10 cents to $60.02 a barrel by 0118 GMT, while US crude futures were at $55.38 a barrel, up 3 cents. Both contracts were on track for a second weekly gain.
A speech by Federal Reserve Chair Jerome Powell later on Friday t a meeting of central bankers in Jackson Hole is expected to provide some clues on whether the Fed will cut interest rates for a second time this year to boost the US economy.

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