Thursday, May 29, 2025

Oil Rebounds Over 2%—But the Market’s Still on a Roller Coaster

Shutterstock
Shutterstock

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%.

Hot this week

First Sale Rule Gains Renewed Traction Amid New U.S. Tariffs

As tariffs rise, companies are revisiting the First Sale Rule to lower import duties, despite its strict requirements and paperwork.

OPEC+ Meeting Spurs Market Caution, Drives Oil Prices Lower

Oil prices fell as OPEC+ plans to boost output, with Brent crude at $64.09 and WTI at $60.89 per barrel amid rising supply expectations.

U.S. Markets Rebound Post-Holiday on Optimism Over U.S.–EU Trade

U.S. stock markets surged after tariff negotiations, with M7 tech companies leading gains, notably Tesla and Nvidia.

North Korea’s Mount Kumgang Poised for UNESCO World Heritage Status

North Korea's Mount Kumgang is recommended for UNESCO World Heritage listing, potentially becoming its third site by July.

Qualcomm Unveils Next-Gen DragonWing Tools for Embedded and Industrial IoT

Qualcomm hosted the IoT Partner & Tech Day, showcasing innovations in IoT, AI, and new products to strengthen partnerships in various sectors.

Topics

First Sale Rule Gains Renewed Traction Amid New U.S. Tariffs

As tariffs rise, companies are revisiting the First Sale Rule to lower import duties, despite its strict requirements and paperwork.

OPEC+ Meeting Spurs Market Caution, Drives Oil Prices Lower

Oil prices fell as OPEC+ plans to boost output, with Brent crude at $64.09 and WTI at $60.89 per barrel amid rising supply expectations.

U.S. Markets Rebound Post-Holiday on Optimism Over U.S.–EU Trade

U.S. stock markets surged after tariff negotiations, with M7 tech companies leading gains, notably Tesla and Nvidia.

North Korea’s Mount Kumgang Poised for UNESCO World Heritage Status

North Korea's Mount Kumgang is recommended for UNESCO World Heritage listing, potentially becoming its third site by July.

Qualcomm Unveils Next-Gen DragonWing Tools for Embedded and Industrial IoT

Qualcomm hosted the IoT Partner & Tech Day, showcasing innovations in IoT, AI, and new products to strengthen partnerships in various sectors.

Korean Robotics Firm Brings AI-Driven Parking Tech to 2025 ITS Asia-Pacific

HL Group's Parkie, the first indoor autonomous parking robot, will demonstrate at the 2025 ITS Asia-Pacific Conference, showcasing its advanced SMS.

Samsung Galaxy S23 Ultra Survives Five Hours in Frozen River, Still Works Perfectly

A Samsung Galaxy S23 Ultra survived five hours underwater in freezing conditions, showcasing its durability and reliability in harsh environments.

Gaza Doctor Loses Nine Children in Airstrike, Continues Working in Hospital ER

A Gaza doctor lost nine children in airstrikes, continuing her work despite the tragedy. Her husband is critically injured.

Related Articles