Brent crude futures rose 32 cents, or 0.45%, to settle at $72.12 per barrel on Friday, posting a slight weekly gain of about 0.2%, as traders held onto hopes for a successful outcome from attempts to secure peace between the United States and Iran.

U.S. West Texas Intermediate crude rose nine cents, or 0.13%, to $68.78 per barrel.

Trading was thin today due to the closure of U.S. markets ahead of the Independence Day holiday tomorrow (Saturday).