Oil prices on track for a weekly gain
Digest more
The price of Russia's Urals crude oil remained $2 per barrel below the $60 per barrel limit imposed by Western nations amid weak Brent prices, Reuters calculations based on traders' data showed on Friday.
Oil prices are set to end the week higher after Trump delayed his tariffs and the Houthis sunk ships in the Red Sea.
U.S. stock-market futures declined as the Trump administration said a broad swath of tariffs against U.S. trade partners won’t take effect until Aug. 1, rather than July 9.
Many energy analysts think that oil prices will soon rise above $100 a barrel for the first time in more than a year, since the turmoil that followed Russia’s invasion of Ukraine.
Explore more
Oil bull Josh Young tells CNBC's Dan Murphy that OPEC's latest World Oil Outlook forecast could set the stage for a long-term uptick in oil prices.
Here’s why oil prices are climbing to their highest levels in two weeks, despite a group of oil producers agreeing to open the floodgates of global crude supply.
The IEA forecasts global oil supply growth will significantly outpace demand in 2025, though a tight summer market is keeping prices supported for now.