Oil Prices Edge Up on Friday

AP

Oil field.

Oil prices saw a modest rise on Friday, 30 May 2025, yet remain poised for a second consecutive weekly loss amid market uncertainty and anticipated supply changes.

As of today, Brent crude is trading at $64.58 per barrel, while West Texas Intermediate (WTI) sits at $61.68 per barrel. Brent rose by 0.67%, and WTI gained 1.21% during the day.

Despite the day’s gains, both benchmarks have fallen between 1.3% and 1.5% over the course of the week. Analysts point to concerns over a potential increase in production from OPEC+, which is expected to be discussed at the upcoming group meeting. This has added downward pressure on prices, alongside broader economic concerns and lingering global trade tensions.

Some analysts warn that if these factors continue, crude prices could slide into the high $50 range by the end of the year.



PUKMEDIA