Oil prices rise in early trade after falling 3% in previous session
Oil prices edged up in early trade on Friday, after sinking in the previous session as OPEC+ said it would stick to its planned oil output hikes in August and investors worried about the strength of the global economy.
Brent crude futures rose 83 cents, or 0.8%, to $109.86 a barrel by 0012 GMT. WTI crude futures for August delivery rose 70 cents, or 0.7%, to $106.46 a barrel.
Prices fell around 3% on Thursday.
U.S. traders squared positions ahead of the long Fourth of July weekend.
On Thursday, the OPEC+ group of producers, including Russia, agreed to stick to its output strategy after two days of meetings. However, the producer club avoided discussing policy from September onwards.
