U.S. crude oil inventories fell by more than expected last week and product stockpiles were mixed as refineries raised their capacity use, according to EIA data.
Oil gained on market optimism around a recovery in demand for crude from China, with government support measures expected to crystallize over 2025, XS.com said.
Gold settled down 0.8% Friday, snapping a two session winning streak, and silver fell 1.3%, snapping a four session winning streak. Both metals also posted weekly losses.