India, April 25 -- Oil prices were subdued on Friday and headed for a weekly loss due to expectations of increased OPEC+ supply and renewed hopes for peace in Ukraine.
Benchmark Brent crude futures were marginally lower at $66.51 a barrel in early European trade, giving up early gains as the dollar eyed a weekly rise on signs of easing trade tensions. WTI crude futures slipped 0.2 percent to $62.68.
Oil prices were down about 2 percent for the week, driven by concerns over oversupply.
A report from Reuters citing three sources familiar with OPEC+ talk said several members will suggest the group accelerates oil output hikes in June for a second consecutive month.
There was also talk of a possible ceasefire in the Russia-Ukraine conflict,...