Oil prices experienced a slight increase in Asian trading on Friday, positioning for a weekly gain amidst continuous geopolitical tensions in the Middle East and expectations of tighter supply. However, the gains were modest as the market awaits crucial U.S. inflation data, which will provide further insights into potential interest rate movements.

The drop in the U.S. dollar, driven by disappointing U.S. economic growth figures, also provided some support to oil prices. The natural gas and oil forecast remains influenced by these dynamics, with reduced U.S. inventories indicating tighter oil markets and ongoing Middle East conflicts maintaining a risk premium on oil prices.