Oil rose as investors weighed the prospect of more OPEC+ supply and the fallout from trade tensions between the US and China.
Brent climbed toward $67 a barrel after sliding 2% on Wednesday, while West Texas Intermediate was around $63.
The dollar weakened, making commodities priced in the currency more appealing.
Growing strain within OPEC+, particularly with perennial overproducer Kazakhstan, has stoked fears that output will continue to rise at a faster-than-advertised pace over the coming months.
The Organization of the Petroleum Exporting Countries and its allies will hold a meeting on May 5 to decide what to do in June.
"Until compliance improves, we believe OPEC+ can continue to unwind faster than planned," said Amrita Sen, co-founder of consultant Energy Aspects. "But also that faster unwind can continue for more than just June."
Oil has dropped sharply this month on concerns that US tariffs and counter-levies from its biggest trading partners will hit economic activity and impact energy demand.
Desipte signs of easing tensions between Washington and Beijing, China said on Thursday that the US should revoke all unilateral tariffs and dismissed speculation that progress has been made in bilateral communications between the two nations.
Source: Bloomberg
Oil prices rose on Friday after a Ukrainian drone attack suspended loadings from the largest port in western Russia, but gains were capped by concerns about U.S. demand. Brent crude futures settled a...
Oil prices continued their rally amid growing concerns that Ukrainian drone attacks could disrupt oil flows through Russia's two most important crude export hubs on the Baltic coast. Brent crude rose...
Oil prices held steady on Friday (September 12th) as concerns about oversupply and weakening U.S. demand offset the risk of supply disruptions stemming from conflicts in the Middle East and Ukraine. ...
Oil held a decline after the International Energy Agency projected an even bigger surplus next year, with the bearish outlook offsetting concerns about geopolitical tensions from the Middle East ...
Oil prices slid about 2% on Thursday on concerns over softening U.S. demand and broad oversupply that offset threats to output from the conflict in the Middle East and the war in Ukraine. Brent crude...
EUR/USD remains steady during the North American session on Friday, poised to end the week with modest gains of over 0.18% as traders brace for the next week's monetary policy decision by the Federal Reserve (Fed). At the time of writing, the pair...
U.S. Treasury Secretary Scott Bessent met with BlackRock Inc executive Rick Rieder in New York on Friday, as the Trump administration continued its search for a new chair for the Federal Reserve, a source familiar with the matter said. Bessent has...
Oil prices rose on Friday after a Ukrainian drone attack suspended loadings from the largest port in western Russia, but gains were capped by concerns about U.S. demand. Brent crude futures settled at $66.99 a barrel, up 62 cents, or 0.93%. U.S....
The International Monetary Fund on Thursday said the Federal Reserve has scope to lower interest rates because of the weakening U.S. labor market,...
The Federal Reserve is likely to start a series of interest-rate cuts next week and keep going through the end of the year, traders bet on Wednesday...
Producer inflation in the United States, as measured by the change in the Producer Price Index (PPI), fell to 2.6% annually in August from 3.3% in...
Annual inflation in the United States (US), as measured by changes in the Consumer Price Index (CPI), rose to 2.9% in August from 2.7% in July, the...