U.S. crude oil costs rose over $1 on Friday, extending steep good points from the earlier session, after U.S. President Donald Trump hinted he might intervene within the worth battle between Saudi Arabia and Russia at an "applicable time".

Costs had been additionally supported by United States' plans to purchase oil for its emergency stockpile, whereas regulators within the nation's largest oil-producing state Texas had been reportedly contemplating curbing manufacturing.

"Such actions, if carried out, would scale back world and home provides and assist assist costs within the near-term," Goldman Sachs stated in a be aware on Friday.

"Whereas this assist might show lasting in 2H20, the accompanying provide cuts would nonetheless stay a lot too small to offset the present eight million barrels per day hit on demand from the coronavirus..."

The extra lively West Texas Intermediate (WTI) crude futures contract for Could...