Oil touched an 11-week high earlier this week, buoyed by fears of supply disruption if other Middle Eastern nations were drawn into the Syrian conflict.
Heavy fighting was reported in Aleppo, Syria's biggest city, on Tuesday, but an international peace conference on Syria is unlikely to be held before August due to differences between Russia and the West, a source at a meeting of Group of Eight leaders said.


U.S. oil prices rose to the highest level since September on Friday as tensions escalated between the U.S. and Syria.
WTI oil prices climbed more than a dollar to a session high of $98.25 a barrel, a level not reached since Sept. 17, 2012. Brent crude futures were up about $1.50 a barrel, reaching a session high of $106.64 a barrel, the highest price in over two months. Oil was trading slightly off the highs at midday.
Crude oil prices have been range-bound for more than a month until Thursday afternoon when it was reported that President Obama authorized shipment of U.S. weapons to Syrian rebels for the first time. The White House said it had proof that the Syrian government used chemical weapons against rebels. Oil prices extended their gains Friday morning