HOUSTON (Reuters) -Oil prices climbed more than 1% on Friday after better-than-expected U.S. employment data, though both benchmarks fell more than 3% on the week on U.S. interest rate hike jitters.

Brent rose $1.19, or 1.5%, to $82.78 a barrel. U.S. West Texas Intermediate crude (WTI) was up 96 cents, or 1.3%, at $76.68.

Fed Chair Jerome Powell has warned of higher and potentially faster rate hikes, saying the central bank was wrong in initially thinking inflation was “transitory”. Its next monetary policy meeting is planned for March 21-22.