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Oil prices set for one of the biggest weekly rises in 2016

A pump jack is seen at sunrise near Bakersfield, California October 14, 2014.

Oil prices rose in Asian trade on Friday, setting crude futures on course for one of their biggest weekly gains this year, as sentiment has become more upbeat despite ongoing oversupply.

International benchmark Brent crude futures were trading at $45.09 per barrel at 0054 GMT, up more than half a dollar from their last settlement.

U.S. West Texas Intermediate (WTI) crude was up 52 cents at $43.70 a barrel.

With Brent up 8 percent since Monday and WTI 12 percent...