International benchmark Brent crude traded at $57.28 per barrel at 11.54 GMT on Friday while American benchmark West Texas Intermediate (WTI) saw prices of $48.13 per barrel, marking increases for both prices since Monday's opening.
The reason behind the price increases seen on Friday was due to the de-escalation in global economic growth, and with concerns over lower oil demand amid a glut of supply.
Brent opened on Monday at $53.76 per barrel while WTI traded at $45.76 a barrel.
Crude oil prices started the new year with losses on Wednesday as the glut of global oil supply, in conjunction with low economic growth prospects for 2019, worry investors.
On Monday, Brent oil was trading at $53.17 per barrel at 06.35 GMT with a 1.2 percent decline after it ended 2018 at $53.80 a barrel. WTI saw prices of $44.90 a barrel at the same time, posting a 2.1 percent loss after it closed Monday at $45.89 per barrel.
Crude oil prices in 2018 saw their first annual decline since 2015, the U.S.' Energy Information Administration (EIA) said in a statement on Thursday.
Brent crude ended 2018 at approximately $13 a barrel lower than the cost at the start of the year, the EIA said. WTI finished last year at $15 per barrel less than it started in 2018, it added.
During 2018, both benchmarks climbed to their highest levels on Oct. 3 when they hit approximately $86 per barrel and $76 per barrel, respectively.
By Gulsen Cagatay
Anadolu Agency
energy@aa.com.tr