Oil prices gained on Friday, as U.S. Secretary of State Antony Blinken prepared to visit the Middle East to try and prevent the Israel-Gaza conflict from widening.
Brent crude futures were up 44 cents, or 0.57%, to $78.03 a barrel, while U.S. West Texas Intermediate crude futures rose 57 cents, or 0.79%, to $72.76 at 1032 GMT.
At its intra-day peak, the WTI futures contract traded more than $1 above previous close.
Both benchmarks are on track to end the first week of the year higher, having almost recouped their losses from Thursday after hefty U.S. gasoline and distillate stock builds.
