Oil prices set for second consecutive weekly gains

Oil prices remained stable in early trading on Friday, positioning themselves for a second consecutive week of gains in global markets.

Brent crude futures rose by four cents to $93.82 a barrel, following a notable 2.4% increase in the previous session.

Meanwhile, US West Texas Intermediate crude futures slipped six cents to $86.78 a barrel, after climbing 2.3% on Thursday.

Significant weekly increases

Market data showed Brent crude prices have surged more than 7% over the past five days, while US crude gained over 8%, reaching their highest levels since July 24.