International oil prices rebounded sharply on Friday.
After fluctuating significantly over the past week, international oil prices ended the week slightly lower following the surge on this day.
Brent crude, the benchmark for international oil, settled at $64.76 per barrel for the June delivery, jumping $1.43 (2.26%) from the previous session.
The U.S. oil benchmark, West Texas Intermediate (WTI), also climbed $1.43 (2.38%) to close at $61.50 per barrel for the May contract.
The gains followed four straight days of declines leading up to April 8, during which oil prices had steadily dropped amid investor caution and trade uncertainties.
Markets reversed course on April 9 after U.S. President Donald Trump announced a 90-day suspension of reciprocal tariffs, which buoyed investor sentiment and triggered a surge in energy markets. On that day, Brent rallied 4.2%, while WTI climbed 4.6%.
But the rally was short-lived.
Fresh concerns over the U.S.-China trade war reignited on April 10, sending both benchmarks tumbling. Brent fell 3.3%, and WTI slid 3.7%, erasing much of the previous day’s gains.
Despite Friday’s strong recovery, oil prices closed the week in the red. Brent crude posted a 1.25% weekly decline, while WTI edged down 0.79%.
