Crude oil futures settled sharply higher on Friday, but still posted a weekly loss due to concerns about outlook for energy demand, and recent data showing a jump in crude inventories in the U.S.
Oil prices moved up today as ceasefire talks between Ukraine and Russia failed to yield a breakthrough.
The White House reportedly warned Beijing that providing military or economic assistance for Russia's invasion of Ukraine will trigger severe consequences from Washington and beyond.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.