NEW YORK, Aug 5 (Reuters) - U.S. crude oil futures rose back on Friday as the dollar weakened against the euro and a basket of currencies after sources said the European Central Bank said it was ready to buy Italian bonds if Italy commits to speed up economic reforms.
In volatile trading on the New York Mercantile Exchange at 12:52 p.m. EDT (1452 GMT), crude for September delivery CLU1 was up 17 cents at $86.80 a barrel, after earlier trading between $82.87 to $88.32.
The U.S. dollar was down 0.79 percent against a basket of currencies. <.DXY> (Reporting by Gene Ramos; Editing by David Gregorio)