May 19, 2025

Oil settled higher, marking a second consecutive weekly gain amid easing U.S.-China trade tensions. However, expectations of increased supply from Iran and OPEC+ capped further price gains. Brent crude futures settled up 88 cents, at $65.41 per barrel, while U.S. West Texas Intermediate (WTI) crude futures rose 87 cents, to close at $62.49. The benchmarks recorded weekly gains of 1% and 2.4%, respectively on friday.