Oil rose 1 percent on Friday, boosted as U.S. crude producers added only two rigs in the latest week and on signs of increased Chinese demand, but trading was volatile as global supply remained strong. Brent crude futures, the international benchmark for oil, settled up 49 cents, or about 1 percent, at $48.91 per barrel. U.S. West Texas Intermediate  crude futures settled up 46 cents, or 1 percent, at $46.54 per barrel. U.S. crude rose more than 5.2 percent for the week while Brent rose more than 4.7 percent.

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