Oil markets saw a slight rebound in early Asian trade on Friday, as traders covered their short positions ahead of the weekend; however, gains were limited by concerns about the US debt ceiling and fears of a US regional banking crisis. Brent crude futures rose by 0.5% to $75.34 a barrel, while US crude futures gained 0.6% to $71.28. Both benchmarks were on track to register little change for the week after three consecutive weeks of declines. The market's bearish mood is likely to continue amid concerns over weak fuel demand recovery in China.