West Texas Intermediate crude rose for the first time in six days, trimming a weekly drop as industrial production advanced more than forecast in China, the second-biggest oil consumer.

Futures gained as much as 1.4 percent in New York, snapping the longest streak of declines since December. China’s factory output climbed 9.7 percent in July from a year earlier, 0.8 percentage points higher than forecast in a Bloomberg survey, figures from the National Bureau of Statistics show. Prices held gains even as the International Energy Agency cut its estimate for 2014 global oil demand growth.

WTI for September delivery advanced as much as $1.42 to $104.82 a barrel in electronic trading on the New York Mercantile Exchange and was at $104 as of 1:46 p.m. London time. The contract fell 97 cents to $103.40 yesterday amid speculation that the Federal Reserve will trim stimulus measures in the U.S. Prices are down 2.8 percent this week.

Brent for September settlement rose 0.4 percent to $107.09 a barrel on the London-based ICE Futures Europe exchange. The European benchmark was at a premium of $3.09 to WTI, down from $3.28 yesterday.

Gold prices are stable and is expected to drop the second week in a row against the dollar growth with a minimum of seven weeks and vague plans for the Fed regarding incentive program.

On Thursday, gold rose nearly 2% as good data on China's foreign trade increased hopes for demand. The presented data showed that China's exports and imports in July rose more sharply than expected, indicating that the second-largest economy in the world is stabilized after slowing in the first half.

Stocks of the world's largest exchange-traded fund backed by gold (ETF) SPDR Gold on Thursday fell by 1.2 tons. Premiums in Hong Kong have risen this week after prices fall below $ 1,300, pointing to an increased interest in the purchase. On Friday, gold of 99.99 percent purity on the Shanghai Gold Exchange traded at $ 25 an ounce more expensive than in London, while at the end of last week's mark-up is $ 20.

The cost of the October gold futures on COMEX today rose to $ 1316.20 per ounce.

Change % Change Last

GOLD 1,310.70 24.60 1.91%

OIL (WTI) 103.80 -0.57 -0.55%