Brent crude held steady near $110 a barrel on Friday, on track for a second weekly gain, supported by conflicts in Libya and Ukraine as well as positive economic data in the world's top oil consumers.
A recent rally in oil prices, which pushed Brent to a 2-1/2-month peak just above $111 on Thursday, could gain further momentum as Asian shares edged up to one-year highs on Friday on signs of improving momentum in the world's biggest economies.
Brent crude was flat above $110 a barrel. The contract settled 19 cents lower on Thursday, after touching a session high of $111.04, the highest since March 4.
U.S. crude rose 61 cents to end at $104.36 a barrel after settling 33 cents lower, its third weekly gain on the back of a steep drop in U.S. oil inventories last week. The contract was helped by data showing housing starts rose to a near 4 year peak.
The oil market was supported by signs of global economic growth, with U.S. manufacturing growth picking up to a three-month high in May, and China's factory sector turning in its best performance this year in May.