Oil prices rebounded on Friday, as strong U.S. demand in gasoline demand and disruptions in supply helped overcome concerns surrounding a global glut. Brent came off sessions highs but remained on track for its first weekly gain in a month, last hovering at $36.23, while U.S. WTI crude was slightly up at $33.47.
Consequently, oil stocks jumped, including top performer Tullow Oil finishing some 10.7 percent up, with Shell and BP also finishing over 3 percent higher.
Basic Resources was Europe's best performing sector following a sharp rise in metal prices, closing up some 3.9 percent. Anglo American and Glencore both closed sharply higher, up 6.7 and 8 percent respectively.
Aside from commodities, the People's Bank of China (PBOC) head governor Zhou Xiaochuan said the central bank still has policy tools available to combat any downside risks to the economy, highlighting potential further easing. This gave a helping hand to stocks, easing concerns over China's growth.