Oil prices edged higher on Friday but posted a weekly decline, under pressure from market expectations of oversupply and uncertainty around tariff talks between the U.S. and China. Brent crude futures settled 32 cents higher at $66.

Oil prices rose on Friday but were headed for a weekly loss on the prospect of more supply entering global markets amid positive US-Iran talks and potential output increases from Opec+ members. Demand concerns as a result of the trade war between the US and China,

Oil prices dropped this week due to tariff uncertainty and potential OPEC+ production increases, impacting company strategies.