Brent crude futures rose 41 cents, or 0.6%, to $76.29 a barrel at 0245 GMT. U.S. West Texas Intermediate crude also rose 36 cents, or 0.5%, to $72.32, according to Reuters data.
Both benchmarks are heading for weekly gains of around 3%, ending a losing streak that lasted 4 consecutive weeks.
Earlier this week, US President Joe Biden and House Speaker Kevin McCarthy reaffirmed their intention to reach an agreement soon to raise the federal debt ceiling to $31.4 trillion, and they agreed to hold talks by Sunday.
Among the factors weighing on markets are still-high inflation data and hawkish comments from central banks around the world.
Government data showed on Friday that core consumer prices in Japan rose 3.4% in April on a year-on-year basis.
It also appears that inflation in the United States is not falling fast enough to allow the Federal Reserve (the US central bank) to halt its interest rate hikes, according to two federal policymakers.
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