Ammon News - Crude rose more than $1 a barrel on Friday, posting its first weekly gain in three weeks after a favorable U.S. jobs report and resumed trade talks between the U.S. and China, raising hopes for growth in the world's two largest economies.

Brent crude futures settled at $66.47 a barrel, up $1.13, or 1.73%. U.S. West Texas Intermediate crude finished at $64.58, up $1.21 or 1.91%.

Both benchmarks settled with weekly gains after declining for two straight weeks. Brent has advanced 2.75% this week, while WTI is trading 4.9% higher.

A rate cut by the U.S. central bank, much desired by President Donald Trump, could boost economic growth and demand for petroleum. Reuters