Oil prices were stable on Friday in choppy trading but remained on course for a second weekly fall after countries announced plans to release crude from their strategic stocks.
Brent crude futures were up 77 cents, or 0.77 per cent, at $101.35 a barrel by 12:19 p.m ET (1619 GMT). US West Texas Intermediate (WTI) crude futures rose 90 cents to $96.93.
Both contracts are set to fall for a second consecutive week, with Brent on course for a 3 per cent slide and WTI for a 2.4 per cent decline. The benchmarks have been at their most volatile since June 2020 for weeks.
Member nations of the International Energy Agency (IEA) will release 60 million barrels over the next six months, with the United States matching that amount as part of its 180 million barrel release announced in March.
