Oil Prices Up But Weekly Fall Expected Under Supply Pressure

PUKMEDIA

Oil prices.

The possible de-escalation of the U.S.-China trade conflict helped oil prices rise for a second session on Friday, but worries over oversupply were threatening to send the market plunging roughly 2% for the week.

By 0650 GMT, Brent crude futures were up 31 cents to $66.85 a barrel, down 1.7% for the week, according to Reuters.

After falling 2.4% for the week, U.S. West Texas Intermediate (WTI) crude increased 35 cents to $63.12 per barrel.



PUKMEDIA