India, April 11 -- After showing a lack of direction early in the session, the price of crude oil moved sharply higher over the course of the trading day on Friday.
Crude for May delivery has surged $1.43 or to $61.50 a barrel, partly offsetting the $2.28 or 3.7 percent slump to $60.07 a barrel seen during Thursday's session.
With the sharp increase on the day, the price of crude oil partly offset its losses for the week but still fell by $0.49 or 0.8 percent.
The jump by the price of crude oil came as concerns about rising trade tensions between the U.S. and China were partly offset by comments from White House press secretary Karoline Leavitt saying President Donald Trump is "optimistic" about reaching a trade deal with China.
"The pr...