Oil prices were little changed in Asian trade on Friday but were on track for a fourth straight weekly gain and remained near their highest since late April on hopes of strong summer fuel demand and some supply concerns.
Brent crude futures, which have risen 7 percent over the past four weeks, were down 2 cents at $87.41 a barrel by 0143 GMT.
U.S. West Texas Intermediate (WTI) crude futures, which have gained 9 percent over the past four weeks, rose to $83.97, up 9 cents from Wednesday’s settlement. The U.S. market was closed on Thursday for the Independence Day holiday.
Oil rose this week on expectations of increased demand during the summer in the United States, the world’s largest oil consumer.
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