London – Oil rose two cents on Friday in a volatile session as bearish fundamentals pressured prices, despite bullish indications earlier in the week.
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International benchmark Brent crude futures were two cents higher at 34.48 dollars per barrel at 1135 GMT, trading in a range of around 34-35 dollars a barrel.
U.S. West Texas Intermediate crude futures were up 11 cents at 31.83 dollars a barrel.
Crude futures benefited earlier this week from the sudden liquidation of a 600 million dollars leveraged fund bet on falling prices.
An effort by Venezuela to rally support for concerted action to boost prices also buoyed futures.
Venezuelan Oil Minister Eulogio Del Pino is due to meet his Saudi counterpart Ali al-Naimi in Riyadh on Sunday, after meeting the Qatari and Omani ministers this week.
A weaker dollar also lent limited support to prices, as the U.S. currency heads for its heaviest weekly loss since 2009.