Oil prices rose more than 1 per cent on Friday, climbing further away from five-month lows hit earlier in the week after a report that Washington could postpone trade tariffs on Mexico and amid signs that OPEC and other producers may extend their supply cuts.
Brent crude futures were up 85 cents, or 1.4 per cent, at $62.51 a barrel. They gained 1.7 per cent on Thursday.
U.S. West Texas Intermediate (WTI) crude futures were up 71 cents, or 1.4 per cent, at $53.30 per barrel. They finished the previous session 1.8% higher.
