While global consumers announced plans to free crude from strategic stocks and Chinese blockades continued, oil prices slipped into early Asian trade, following the second consecutive weekly decline.

The market has followed developments in China, where authorities have kept Shanghai, a city of 26 million people, under its "zero tolerance" for COVID-19. At 2202 GMT, Brent lost 38 cents to $102.40 a barrel while U.S. crude lost 16 cents to $98.18. Last week, Brent fell 1.5% while U.S. West Texas Intermediate slipped 1%. For several weeks, benchmarks have been at their highest volatility since June 2020.

Aso the OPEC+ group of oil exporting nations has shown no inclination to increase its production targets beyond the 400,000 barrels per day it adds each month as part of a restoration of supply cuts.