Oil futures climbed on Friday, with U.S. prices tallying a weekly gain of more than 4% as optimism surrounding progress toward a resolution of the U.S.-China trade dispute eased worries about energy demand.
Data from Baker Hughes Friday also revealed a drop in the U.S. oil-rig count for this week, the largest such decline in nearly three years. February West Texas Intermediate oil rose $1.73, or 3.3%, to settle at $53.80 a barrel on the New York Mercantile Exchange. The contract, which expires at Tuesday's settlement, ended about 4.3% higher for the week.
Source : Marketwatch