Oil prices rose slightly in Asian trade on Monday as traders sought more information on rescue attempts for Iran’s President after a helicopter crash. 

Asian stocks inched lower on Friday as traders pondered the near term U.S. monetary policy path after Federal Reserve officials suggested that interest rates may need to stay higher for longer even as inflation shows early signs of easing.

Chinese industrial production grew more than expected in April, indicating that a recovery in the country’s massive manufacturing sector remained on track amid increased government support. 

The number of Americans filing new claims for unemployment benefits fell last week, pointing to underlying strength in the labor market.

The number of Americans filing for first-time unemployment benefits was higher than anticipated last week, although the figure declined compared to the prior period.

Oil prices rose in Asian trading hours on Friday, with global benchmark Brent set for its first weekly increase in three weeks on signs of improving global demand and slowing inflation in top oil consumer the United States.