Oil prices were trading in a tight range ahead of a meeting of consuming nations to discuss a further release of emergency oil reserves, alongside a huge release planned by the United States. This Friday oil shows a slight decline.

West Texas Intermediate (WTI) crude oil futures fell 40 cents to $99.89 a barrel at 0437 GMT after hitting $101.75. The contract fell 7% on Thursday. Brent crude oil futures slid 8 cents to $104.63 a barrel, after falling 5.6% on Thursday. The May contract expired Thursday at $107.91.

Separately, Russian gas poured into Europe on Friday, as European gas prices continued to rise. Gold fell on Friday and was heading for a weekly decline. Spot gold was down 0.4% at $1,929.90 an ounce at 8:25 GMT. US gold futures fell 0.9% to $1,936.

Spot silver fell 0.5% to $24.65 an ounce and is expected to see a weekly decline. Platinum rose 0.1% to $984.56, while palladium rose 0.6% to $2,274.34. Both metals were on course for a fourth consecutive weekly loss.