Oil rises over 1% on hopes demand will rebound from coronavirus effect

NEW YORK (Reuters) - Oil prices rose over 1% on Friday, posting their first weekly gain since early January as investors bet the economic impact of the coronavirus would be short-lived and hoped for further Chinese central bank stimulus to tackle any slowdown.Brent crude rose 98 cents, or 1.74%, to settle at $57.32 a barrel. It rose 5.23% since last Friday, its first weekly increase in six weeks. U.S. West Texas Intermediate (WTI) futures gained 63 cents, or 1.23%, to settle at $52.05 a..