Crude oil futures ended higher on Friday despite the absence of significant supply disruption from the Iran-Israel conflict saw any risk premium evaporate. Meanwhile, oil and energy traders were focused on the upcoming July 6th meeting of OPEC+, where another hike in production by 411,000 bpd is likely to be approved.
Benchmark crude oil futures for August rose $0.28 or about 0.43% at $65.52 a barrel on the New York Mercantile Exchange. Brent crude for August gained $0.04 or about 0.06% at $67.77 a barrel on London's Intercontinental Exchange.