Oil prices rose on Friday but remained on course for a second weekly fall after countries announced plans to release crude from their strategic stocks.

Brent crude futures were up 71 cents, or 0.7%, to $101.29 a barrel at 1056 GMT. U.S. West Texas Intermediate (WTI) crude futures gained 85 cents, or 0.9%, to $96.88 a barrel.

Both contracts will fall for a second consecutive week, with Brent on course for a 3% slide and WTI for a 2.3% decline.

Member nations of the International Energy Agency will discharge 120 million barrels over the next six months.

The United States will match that amount as part of its 180 million barrel release announced in March.

As ANZ Research analysts said, the release may discourage producers, including the Organization of the Petroleum Exporting Countries (OPEC) and U.S. shale producers, from revving output enlargements even with oil prices around $100 a barrel.

The U.S. Congress voted to ban Russian oil on Thursday, while the European Union considered a ban.

But demand uncertainties kept a lid on prices Friday after Shanghai extended its lockdown amid fast-rising COVID-19 infection