Oil prices rose on Friday as US buyers covered positions ahead of the Memorial Day weekend amid concerns over the latest round of nuclear talks between American and Iranian negotiators.
Brent crude futures settled at $64.78 a barrel, up 34 cents, or 0.54%. U.S. West Texas Intermediate crude futures finished at $61.53, up 33 cents, or 0.54%.
Memorial Day weekend kicks off the U.S. summer driving season, the period of highest demand for motor fuels. Traders are afraid crude supplies could be interrupted if talks fail to reach a deal, which could give the Israelis a green light to attack Iran.
OPEC+, comprising the Organization of the Petroleum Exporting Countries and allies led by Russia, is expected to increase supply again this summer.
