Oil edged up on Friday, poised for hitting weekly gains, as the released figures from US and China implied for boosted demand and lingered vagueness related to supported prices due to geopolitical tensions in Gaza.

Brent crude futures advanced by 0.6%, to $84.41 per barrel and are poised to touch weekly gain of 1.7% while US WTI jumped by 0.7%, to $79.84, poised for a weekly tick up by 2.2%.

A bolster in demand has been indicated by advance in China's exports and imports in April after shrinking in the earlier month.

A slump in US crude inventories prompted by increased refinery operations fell in line with data that was made public on Thursday, which showed that China's oil imports increased in April compared to the previous year due to signs of strengthening trade.

Ceasefire talk between Israel and Hamas did not reach a final resolution, spiking worries of possible supply turmoil in the Middle East.