Key Points
HOUSTON (Reuters) -Oil prices rose 1% on Friday, but looked set for a weekly loss after strong U.S. economic data reinforced expectations that interest rates might remain elevated for an extended period and curb fuel demand...
U.S. West Texas Intermediate (WTI) crude futures rose 93 cents to $77.80, on some expectations of high summer travel demand starting this weekend...
Petroleum prices remain soft in early Friday dealings, with worries over Federal Reserve interest rate policy and last weeks bump in US crude oil inventories still weighing on market sentiment, said Tim Evans, an independent energy analyst...
The market is awaiting a June 2 online meeting of the OPEC+ producer group comprising the Organization of the Petroleum Exporting Countries and its allies to discuss whether to extend voluntary oil output cuts of 2.2 million barrels per day...
Russia, in a rare admission of oil overproduction, said this week it exceeded its OPEC+ production quota in April for technical reasons, a surprise that analysts and industry sources say shows Moscows challenges in curbing output...
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