• West Texas Intermediate climbed toward $86 a barrel after closing 1.4% lower in the previous session. Brent settled near $90. OPEC maintained its robust outlook for global oil demand growth this year in a monthly report on Thursday, as top traders and Wall Street banks strike a more bullish tone on prices.
• Simmering in the background is a possible escalation of hostilities in the Middle East. The US believes an attack on Israel by Iran or its proxies is imminent in response to a strike on its diplomatic compound in Syria last week. Russian attacks on Ukrainian energy infrastructure added to geopolitical tensions.
• The IEA will provide a snapshot of the market later Friday, including the outlook for demand.