The euro dipped against the dollar, while European share trading was volatile on Wednesday as investors grew more cautious ahead of a key European Central Bank meeting and a US jobs report.
The euro rose against the dollar and stocks rose after the European Central Bank kept its key interest rates unchanged on Thursday.
Brent rose above USD 106 per barrel on Friday, buoyed by a European Central Bank pledge to protect the euro zone and hopes for fresh stimulus in the United States, although it stayed on track for its biggest weekly drop in more than a month.
Angel Commodities has come out with its report on Crude and Natural Gas. According to the research firm, crude oil prices are expected to trade on a positive note on the back of upbeat global market sentiments along with hopeful statement from the ECB President.
The euro zone economy faces serious risks and politicians must act fast, although the European Central Bank stands ready to provide further liquidity to solvent banks, ECB President Mario Draghi said on Friday.
Some of the world's most prominent central bankers may have to hope the pen is as mighty as the sword.
The European Central Bank will hold interest rates at a record low of 1% on Wednesday and resist German pressure to flag an exit from its crisis-fighting mode as the euro zone recovery looks increasingly fragile and concerns grow about Spain.