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Oil extends gains, set for biggest weekly rise since 2009

An offshore oil platform is seen at the Bouri Oil Field off the coast of Libya August 3, 2015.

Oil extended gains on Friday and was set for its biggest weekly rise in over six years, after U.S. Federal Reserve minutes suggested there was no hurry to raise interest rates and an influential forecaster predicted a price rally.

Brent crude, the global benchmark, was up 60 cents at $53.65 a barrel at 0344 EDT, on track to rise 11 percent this week alone. U.S. crude was up 77 cents at $50.20 a barrel after rising as far as $50.58, the highest level in more than two months.

The U.S. central bank's...