Brent crude oil futures rose nearly 1 percent to settle above $112 a barrel on Friday, regaining strength around midday along with U.S. crude futures as traders covered shorts ahead of the weekend.

A rash of short-covering developed on news midday that Al Qaeda plotted last year to hijack or sink oil tankers to cause prices to spike and trigger an economic crisis in the West.

In London, ICE Brent for July delivery settled at $112.39 a barrel, gaining 97 cents, or 0.86 percent. For the week, front-month Brent fell $1.44, or 1.27 percent, from the $113.83 settlement on May 13.

(Reporting by Gene Ramos)