Oil prices rose in Asian trade on Friday as bargain hunters sought cheaper crude following recent steep falls, analysts said.
New York’s main contract, West Texas Intermediate for November delivery, gained 53 cents at $81.04 a barrel in morning Asian trade, after diving more than five dollars, or 6.3 per cent, in the US session yesterday.
Brent North Sea crude for November settlement was up 71 cents to $106.20 after plunging $4.87 overnight.