The price of crude oil showed a substantial turnaround over the course of the trading day on Friday, recovering from an early sell-off to close sharply higher.
After slumping as low as $75.83 a barrel, the price of crude for April delivery surged $1.52 or 1.9 percent to $79.68 a barrel. For the week, crude oil spiked by 4.4 percent.
The early sell-off by oil prices came after a Wall Street report said United Arab Emirates is having an internal debate about leaving the Organization of Petroleum Exporting Countries (OPEC).
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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.