HOUSTON: Oil settled higher on Friday, notching a second straight week of gains on easing US-China trade tensions, although prices were held back by expectations of higher supply from Iran and Opec+.

Brent crude futures settled up 88 cents, or 1.4%, at US$65.41 per barrel, while US West Texas Intermediate crude futures closed 87 cents, or 1.4% higher at US$62.49.