Oil prices saw only a marginal fall on Friday but recovered to Monday’s high trading levels on ongoing concerns over supply disruptions.
International benchmark Brent crude oil traded at $106.28 per barrel at 1300 GMT on Friday, posting a 0.58% fall from Monday's closing of $106.90 a barrel.
American benchmark West Texas Intermediate (WTI) registered at $103.56 per barrel at the same time on Friday, increasing 0.53% from the closing price of $103.01 a barrel on Monday.
Brent saw its highest price level of $113.15 on Monday, on the back of ongoing supply fears after the US and UK applied sanctions on Russia.
On Tuesday, Brent retreated to $99.91 at closing amid the prospect of a deal between Russia and Ukraine.
Oil prices recuperated on Thursday climbing up to $107.50 from previous trading declines on reports that Russia and Ukraine were making significant progress on a tentative 15-point peace plan.
A warning from the International Energy Agency on the possibility of a loss of nearly 3 million barrels per day of oil in April due to sanctions on Russia also supported the price revival.
Meanwhile, the European Union, the US, UK and Australia are among the countries that have imposed various sanctions on Moscow.
Additionally, many companies and global brands have suspended operations in Russia.
By Zeynep Beyza Kilic
Anadolu Agency
energy@aa.com.tr