Abu dhabi: Oil prices rose on Friday after recording notable declines in the previous trading session. Brent crude futures gained US$2.38, or 2.3 percent, to reach US$104.96 per barrel by 00:34 GMT. US West Texas Intermediate crude futures also rose by US$1.73, or 1.8 percent, to US$98.08 per barrel.
According to Emirates News Agency, both benchmarks had fallen by around 2 percent on Thursday, marking their lowest closing levels in nearly two weeks. The recent increase in prices suggests a recovery in the oil market following the dip earlier in the week.