Mumbai, May 30 -- Oil futures hovered near $61 per barrel on Friday, heading for a second weekly loss as market sentiment remained shaky amid tariff uncertainty and soft US economic data. A US court's move to reinstate Trump-era tariffs added to volatility, while Q1 GDP contraction stoked demand concerns. Still, a surprise 2.8 million barrel drop in US crude inventories lent some support. MCX oil futures rose to Rs.5241 per barrel, with traders now eyeing Saturday's OPEC+ meeting for signals on July output policy.
Published by HT Digital Content Services with permission from Capital Market....