Both benchmarks fell for the first time in five weeks, pressured by a big rise in USA inventories and fading concerns about shrinking global supplies due to looming U.S. sanctions on Iran's oil exports.
West Texas Intermediate for November delivery was at $71.72 a barrel on the New York Mercantile Exchange at 3:46 p.m.in Seoul, up 75 cents.
While there are risks of Middle East conflicts and further outages in production, growing output from the U.S., Saudi Arabia and Russian Federation is likely to keep markets reasonably supplied, said Rob Haworth, senior investment strategist at U.S. Bank.
Characterized by geopolitical volatility, boom and bust cycles, destructive market rules and lack of cooperation, the rivalry scenario would see higher energy intensity, lower GDP, largely stable share of fossil fuels and more demand for shale gas.
A drop in US oil production supported prices. Brent crude futures edged up 13 cents to $80.39 a barrel by 0042 GMT.
Both benchmarks, which registered their first weekly declines in five weeks, shed some 3% Thursday.
Futures dropped 4 per cent this week in NY, echoing declines in the S&P 500 Index amid fresh concern about the escalating US-China trade war, reported Bloomberg.
Crude oil prices moved higher on Friday, recovering from recent losses, after upbeat exports data from China and the rally in stock markets helped ease concerns about economic slowdown and allay fears about demand growth.
McTeague says there are a number of other factors also driving down prices, including a large refinery shut down in the US that usually buys a lot of Canadian crude.
"Oil bulls are bearing the brunt of another bruising session as yesterday's selling frenzy intensifies", said Stephen Brennock, analyst at London brokerage PVM Oil. That was much larger than what analysts had expected. That followed three straight weeks of declines and was the largest weekly increase since the week ended August 10. The contract dropped by 4.3% to $1.933 a day earlier the lowest finish since March.
Gasoline stockpiles were up by 1 million barrels last week, while distillate stockpiles declined by 2.7 million barrels, the EIA report revealed.
In the U.S. Gulf of Mexico, producers had cut output by 40 percent on Thursday due to Hurricane Michael, even as some operators began returning crews to offshore platforms. But now that crude is near the highest in four years, it's suddenly a hot topic.