Crude oil prices declined by more than 1% on Friday after United States President said in an interview with Time magazine that he would consider it a "total victory" if his country still imposed trade duties of up to 50% by this time next year. Investors were also still digesting reports that OPEC+ may increase production in the coming months, potentially leading to fears of oversupply that were further increased by Kazakhstan's reluctance to follow the group's agreed-upon output levels.
West Texas Intermediate (WTI) for June's deliveries dropped by 1.43% at 8:08 am ET to go for $61.97 per barrel. Meanwhile, Brent's settlements for the same month fell by 1.26% and sold for $65.73 per barrel at 8:09 am ET.
