Oil prices rose about 1 percent in choppy trading on Friday, a day after its biggest gains in a month, as a weaker denominating currency, the US dollar, helped support crude.
Oil prices extended losses in Asia on Wednesday after industry data showed a rise in US crude stockpiles, supporting oversupply concerns.
Oil prices fell in Asia on profit-taking Friday following two days of gains, with concerns about a global oversupply keeping optimism in check.
Oil prices fell to their lowest levels since April on Friday, with Brent on track for its biggest monthly loss since December 2015, pressured by slowing economic growth.
Oil prices extended their decline in Asia Tuesday as the global glut returned to focus, while worries about the effects of Turkey's coup on shipments also eased.
Oil prices extended their rise in Asia Monday as robust economic data from the United States and China fuelled hopes of a pick-up in demand from the world's top two economies.
Crude prices bounced back on Friday from two-month lows hit in the previous session, but benchmark Brent was in line for its largest weekly decline since January as bearish economic indicators weighed on oil.
Oil prices rose on Tuesday as a looming strike in Norway threatened to cut output in western Europe's biggest producer, although Britain's vote to leave the European Union was still weighing on markets.
Oil rose further above $50 a barrel on Wednesday after an industry report showed a large drop in US crude inventories, with analysts expecting volatile trading ahead of Britain's referendum on EU membership.
Oil prices fell on Friday, as a stronger dollar pulled crude off the 2016 highs hit this week, although strong refinery demand and global supply disruptions lent some support.
Oil prices edged up to fresh 2016 highs on Thursday, buoyed by a fall in US crude inventories, a weaker dollar and strong demand, although some analysts warned that the recent rally was starting to look overblown.
Oil prices rose on Thursday after data showing a weekly drawdown in US crude stockpiles helped crude markets recover from OPEC's decision not to set a ceiling for its production.
