From Yahoo Finance: 2025-05-30 15:11:00

Oil prices fluctuated due to uncertainty surrounding US-China trade talks. West Texas Intermediate settled near $61 a barrel after Trump threatened further restrictions on China, impacting oil demand. OPEC+ is considering a July output increase of over 411,000 barrels per day to gain market share, potentially leading to a glut. Geopolitical risks and increased short positions by commodity trading advisers added to market volatility. Despite this, some indicators suggest near-term strength in the oil market. Threats to oil production in Libya and wildfires in Canada are also impacting prices.



Read more at Yahoo Finance: Oil Edges Down on Trade Jitters, Uncertainty Over OPEC+ Meeting