New York: Oil prices rose at settlement on Friday, positioning for gains for the second consecutive week as trade tensions between the United States and China ease. Brent crude futures increased by 88 cents, or 1.4 percent, to settle at $65.41 a barrel.

According to National Iraqi News Agency, US West Texas Intermediate (WTI) crude futures also experienced an increase, rising by 87 cents, or 1.4 percent, to reach $62.49. This movement in the oil market reflects a positive trend as both Brent and WTI crudes have recorded weekly gains.

Brent crude has seen a weekly gain of 1 percent, while WTI crude has achieved a more substantial gain of 2.4 percent. These gains suggest a stabilization in the oil market amidst easing trade tensions between the two major economies, which often influences global oil prices.