Oil Heads for Weekly Gain but Remains Under Hike Pressure

Oil posts weekly gain but remains under supply hike pressure

Brent crude futures settled up 88 cents at $65.41 per barrel, while U.S. West Texas Intermediate crude futures closed 87 cents higher at $62.49

Oil heads for weekly gain but remains under hike pressure

Oil prices edged up today, heading for a second consecutive weekly gain on easing US-China trade tensions, although the optimism was somewhat offset by higher supply expectations from Iran and OPEC+.

Oil Set For Weekly Gain on China Trade Deal Hope

Crude oil prices were set for a weekly gain after a string of losses on the news of a trade war ceasefire between the U.S. and China, which sparked hopes the two would come to a mutually beneficial understanding that would end the tariff spat. At the time of writing, Brent crude was trading at $64.64 per barrel and West Texas Intermediate was changing hands for $61.72 per barrel, both up, albeit moderately, from the start of the week. According …

Crude Oil Prices up Amid Easing US-China Trade Tensions

By Adedapo Adesanya Crude oil prices were higher on Friday on easing US-China trade tensions, although prices were held back by expectations of higher supply from Iran and the Organisation of the Petroleum Exporting Countries and its allies (OPEC+). The price of Brent crude increased by 88 cents or 1.4 per cent to $65.41 per […]

Caution follows rally - May 18, 2025

Alaska North Slope crude slid 64 cents May 14 to close at $69.07 per barrel, while West Texas Intermediate fell 52 cents to close at $63.15 and Brent fell 54 cents to close at $66.09. A surprise jump in U.S. crude inventories spurred the losses, causing the benchmarks to give back a chunk of the pre...

The price of Texas intermediate oil (WTI) closed this Friday with an accumulated increase this week of more than 2%, to end up installed in the 62.49 dollars a barrel (1.41 % up during today's session), spurred by the reciprocal reduction of tariffs agreed by the US and China. EFE At the closing of the New York Stock Exchange, the futures contracts of the WTI for delivery in June added today 88 cents compared to the previous day. During this wee…