Crude oil prices had second straight week of gains

  • May 16, 2025

 

Crude oil prices finished up on Friday and at the same time accomplished a second straight week of gains.
A couple of things affected prices. One is the easing of US-China trade tensions and the other is prices were held back by expectations of higher production from Iran and OPEC+.
West Texas intermediate crude finished up 87 cent or 1.4% at $62.49 per barrel on the New York Mercantile Exchange. For the week, WTI had a 2.4% gain.
Brent crude rose 88 cents or 1.4% and closed at $65.41 per barrel. It also finished up 1% for the week.

Natural gas prices dropped 3 cent for a decline of 0.83% to settle at $3.33.

Numerous Oklahoma energy stocks experienced losses on Friday including a 4% slide for Empire Petroleum but about the same number had gains including a 9% increase for Stardust Power, the developer of a lithium refinery in Muskogee.

 

Alliance Resource Partners LP
Expand Energy Corp

Jerry Bohnen