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Oil prices rose on Friday, 25 April, due to a potential de-escalation of the trade war between the US and China, although the market remains volatile amid fears of oversupply, enkorr reports.
Brent crude oil futures rose by $0.43 to $66.98 per barrel, showing a weekly drop of 1.4%. US West Texas Intermediate (WTI) rose by $0.42 to $63.21 per barrel, but fell by 2.3% over the week.
“Oil prices are slightly higher today as the market reacts to signs of easing tensions over Trump’s tariffs and a potential change in Fed policy, contributing to a broader market recovery,” said Anh Pham, senior analyst at LSEG.
Despite the current growth, the market remains volatile due to concerns about oversupply and the impact of global economic factors.
