Oil futures gained Friday, lifting prices up by more than 5% for the week on signs of tighter global supplies and progress in trade talks between the U.S. and China.
The market was optimistic in regard to progress in this week’s trade talks between the U.S. and China, which can influence demand for energy from the globe’s largest two economies.
U.S. benchmark March West Texas Intermediate crude oil rose $1.18, or 2.2%, to settle at $55.59 on the New York Mercantile Exchange.
April Brent added $1.68, or 2.6%, to $66.25 on the ICE Futures Europe exchange.
Source : Market Watch