Oil set for second weekly decline as market eyes another OPEC+ output hike
5/30/2025 11:47:00 AM
Oil prices were on track for a second consecutive weekly decline on Friday, weighed down by expectations of another OPEC+ output hike in July and fresh uncertainty after the latest legal twist kept U.S. President Donald Trump's tariffs in place.
Brent crude futures slipped 21 cents, or 0.33%, to $63.94 a barrel by 0626 GMT. U.S. West Texas Intermediate crude fell 22 cents, or 0.36%, to $60.72 a barrel. The Brent July futures contract is due to expire on Friday.
Brent crude futures slipped 21 cents, or 0.33%, to $63.94 a barrel by 0626 GMT. U.S. West Texas Intermediate crude fell 22 cents, or 0.36%, to $60.72 a barrel. The Brent July futures contract is due to expire on Friday.