SINGAPORE (Reuters) -Oil prices rose on Friday, buoyed by optimism over a potential trade deal between the U.S. and the European Union and reports of Russian plans to restrict gasoline exports to most countries.

Brent crude futures gained 17 cents, or 0.3%, to $69.35 a barrel by 0027 GMT. U.S. West Texas Intermediate crude futures climbed 15 cents, or 0.2%, to $66.18 per barrel.

Oil settled 1% higher on Thursday, driven by media reports of expected cuts to Russian gasoline exports. This overshadowed news of Chevron Corp potentially securing U.S. approval to resume production in Venezuela.

President Donald Trump’s administration is preparing to allow limited oil operations in the sanctioned OPEC nation, the Wall Street Journal reported.

U.S. crude inventory draws and hopes for a trade d

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