Brent: Oil prices hovered above $100 per barrel on Friday while heading for their fourth consecutive weekly increase. Brent futures advanced 37 cents, or 0.37 percent, to $101.06 a barrel at 0330 GMT. This follows a significant rise in the previous session, where prices settled 7 percent above $100, marking the first time since May that Brent has crossed this threshold.

According to Emirates News Agency, the contract remained on course for a 14.6 percent advance this week. Meanwhile, West Texas Intermediate (WTI) futures showed little change at $91.20 a barrel. This level represents the highest since 11th June and indicates an 11.8 percent potential weekly rise.