The contract hit a session high of $113.97 a barrel on Thursday before settling at $111.42 a barrel.

Brent rose by $3, or 2.78%, to $111.01, WTI were up $2.59, or 2.74%, at $97.07.

Brent crude futures traded at about $104.1 a ⁠barrel, U.S. ​West Texas Intermediate was down 7.8% at $90.55.

Brent futures rose $1.67, or 1.5%, to $110.32 ​a barrel at 1030 GMT, while U.S. West Texas Intermediate (WTI) crude added 33 cents, or 0.3%, to $96.47.

With the culmination of the Ramadan festivities this week,the main agenda has been cutting through the noise in the global Oil markets.

With countries around the world facing energy, climate and security challenges, IAEA Director General Rafael Mariano Grossi said nuclear energy is now widely recognized as an essential part of the solution.

World first policy: The UK will be the first country in the world to offer a market framework for fusion electricity to de-risk and incentivise private investment and enable fusion to power homes and businesses.

In an update outlining its first year of operation, the agency highlighted its development of a strategy for the nuclear industry to 2050 and the selection of Russia's Rosatom as the leader of an international consortium to build the country's planned new plant, to be named Balkash and located in the Zhambyl district of the Almaty region.

"Finland will always need carbon-free, affordable and reliable energy, such as nuclear energy," Minister of the Environment and Climate Sari Multala said.

Brent were down $7.15, or 7.2%, at $91.81, WTI was down $6.26, or 6.6%, at $88.51 a barrel.

Brent was up $2.25, or 2.8%, at $83.65, WTI rose $2.56, or 3.4%, to $77.22.

European gas prices spiked to a three-year high this week amid the widening conflict in the Middle East, though they pared some losses today after the US said it plans to protect navigation in the Strait of Hormuz.

A new goal pledges to cut carbon emissions per unit of gross domestic product by 17% by the end of the decade, and compares to a previous objective to deliver an 18% reduction in the five years through 2025 — which annual reports said was narrowly missed.

Under an MoU on cooperation in the field of energy signed in October 2024 between KHNP and the Philippine Department of Energy, KHNP agreed to conduct a feasibility study to evaluate the possible start up of the mothballed Bataan plant.

The Innovative Small Modular Reactor (i-SMR) - being developed by a consortium led by Korea Hydro & Nuclear Power (KHNP) and the Korea Atomic Energy Research Institute (KAERI) - is an integrated pressurised water reactor type nuclear power plant with an electrical output of 170 MW for both domestic use and export.