Oil Prices Edge Up on Friday but Record Weekly Losses

Oil prices rose marginally on Friday, but logged weekly loss. Brent crude futures surged almost 0.4 per cent, to settle at 61 dollars and 29 cents per barrel, while WTI Crude futures gained over 0.1 per cent, to close at 57 dollars and 54 cents per barrel. For the week, Brent crude futures dipped 2.3 per cent and WTI Crude futures also dropped 2.3 per cent.
On the geopolitical front, US President Donald Trump and Russian President Vladimir Putin agreed to meet again to discuss on the Ukraine war, which will be held in the next two weeks in Hungary.