Oil Prices Dip Slightly On Friday

PUKMEDIA

Oil prices.

Oil prices saw a slight decline on Friday, 6 June 2025, amid ongoing concerns over weakening global demand and economic slowdown. Brent crude slipped by $0.23 to $65.11 a barrel (–0.35%), while West Texas Intermediate (WTI) dropped $0.29 to $63.08 (–0.46%).

Despite today’s minor losses, both benchmarks are still set to post weekly gains. The rise is underpinned by expectations of tighter global supplies, possible new US sanctions on Russia and Iran, and renewed geopolitical tensions, particularly the escalation of hostilities between Russia and Ukraine.

Market sentiment has also been lifted by signs of resumed US-China trade talks, although subdued economic data from both countries continues to cast a shadow over demand prospects.

Traders will be keeping a close eye on upcoming developments related to sanctions, OPEC+ policy, and broader global economic signals in the week ahead.



PUKMEDIA