Oil Prices Post Modest Rebound but End Week in Decline
Crude oil futures ended Friday with minor gains, but the weekly picture showed another steep drop. Brent crude futures rose 23 cents, or 0.38%, closing at $61.29 a barrel. West Texas Intermediate (WTI) crude edged up 8 cents, or 0.14%, to settle at $57.54 on the New York Mercantile Exchange.
The small uptick followed five straight sessions of losses. Analysts said traders reacted to the International Energy Agency’s (IEA) prediction of a growing global oil glut. The forecast suggested that production increases in key markets could outpace demand heading into early 2026.
Global Politics Add Pressure to Prices
Market sentiment also cooled amid renewed diplomatic efforts to end the Russia–Ukraine war. President Donald Trump met Friday with Ukrainian President Volodymyr Zelenskiy and plans to meet soon with Russian President Vladimir Putin. Investors viewed a potential peace agreement as bearish for oil, which could bring more supply back online.
Natural gas prices inched higher, with Henry Hub contracts closing at $2.993 MMBtu, up 1.87%.
Oklahoma Energy Stocks Close Mostly Down
Oklahoma-based energy firms saw another weak finish. Devon Energy fell 0.91% to $31.74, and Alliance Resource Partners dropped 1.8% to $24.05. ONEOK gained 1.29% to $68.09, and ONE Gas rose 1.13% to $82.08, offering slight relief.
Other decliners included LSB Industries (-1.31%), SandRidge Energy (-1.23%), and Vital Energy (-2.33%).
Overall, the state’s energy index reflected modest losses, echoing national trends tied to oil’s weekly decline.
