Oil prices clawed back from a huge loss and were up by more than 1 per cent on Friday on lingering supply concerns after tension between the US and Iran cooled following Washington's decision to hold off a military strike.
Brent, the benchmark for two thirds of the world's oil, climbed 0.85 per cent to $64.30 a barrel as of 7.08pm UAE time on Friday. West Texas Intermediate, the gauge that tracks US crude, rose 0.69 per cent to $59.60 per barrel.
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