Oil prices rose slightly on Friday and were on track for a weekly rise, spurred by expectations economic stimulus efforts will prompt a recovery in China, while a stronger dollar capped gains. Brent crude futures rose 14 cents to $73.

China's fiscal stimulus has provided some upward momentum for oil market, but questions still remain over the longevity of this movement.

Oil futures ended modestly lower Monday, extending a decline seen the previous week in response to a surging U.S. dollar and worries about the outlook for demand — particularly from China, the world’s largest crude importer.

Oil rose 1% on Friday and was on track for a weekly gain, spurred by expectations of a stimulus-driven economic recovery in China, the world's biggest oil importer, and by forecasts of lower U.S. inventories.

Oil prices held steady on Friday but are on track to record a weekly gain amid forecasts for higher economic growth in China, while investors are still evaluating the market outlook for 2025 and monitoring geopolitical developments in the Middle East.

Oil edged lower on Thursday in light holiday trade as the dollar's strength offset hopes for additional fiscal stimulus in China, the world's biggest oil importer. Brent crude futures settled down 32 cents,