Oil prices steadied on Friday as investors paused for breath following a day of wild swings prompted by the prospect of coordinated action by the world’s major economies to release official crude reserves from stocks.
Brent crude was up 28 cents or 0.3% at $81.52 a barrel by 0145 GMT, after falling to a six-week low on Thursday before rebounding to close 1.2% higher.
U.S. crude was up 19 cents at $79.20 a barrel, having swung through a more than $2 range the previous session before closing up. Both are heading for a fourth week of declines.
