Oil futures settled higher on Friday, with U.S. prices tallying a gain of 3.6% for the week as expectations for progress in U.S.-China trade negotiations eased worries about energy demand.

The U.S. and China have reached a partial agreement Friday that may lead to a truce in the trade war, according to a report from Bloomberg News.

November West Texas Intermediate oil rose $1.15, or 2.2%, to settle at $54.70 a barrel on the New York Mercantile Exchange. That was the highest front-month contract finish since Sept. 27, according to FactSet data.

Source : MarketWatch